#Bitcoin just reached ATH around $124k, but was immediately ‘thrown cold water’ by the higher-than-expected PPI (Producer Price Index) data for July from the US. This PPI number is a measure of input inflation for producers, and when it exceeds forecasts, the market immediately worries that the Fed will maintain tighter monetary policy for longer.
Consequences? BTC faces short-term profit-taking pressure, price sliding to the $121k–$122k range. However, looking at the bigger picture, the uptrend structure is still intact — the trend remains upward, and this may just be a necessary 'breath' before another rise.
PPI and its impact on crypto
High PPI often signals that consumer inflation (CPI) is also hard to cool down. This causes US bond yields to rise, the USD to strengthen, and asset risks like crypto to experience a cooling off. But unlike previous cycles, this time real demand from spot ETFs, especially for $ETH, is helping the market maintain a stronger foundation.
ETH and BNB: Altseason signal is not extinguished
#ETH just recorded inflows into ETFs of $729M in one day – the second highest record in history, reinforcing the strength of the support zone $4.55k–$4.6k.
BNB has broken ATH $864 and maintained a price above $850 – a signal that the Binance ecosystem still enjoys capital inflows, and if BTC stabilizes, the target of $900–$1,000 is not far away.
Short & long term scenario
BTC breaks out ATH then tests back. ETH experiences slight selling pressure but still supported by ETF inflows.
If BTC stays above ~120k and ETH >4.5k, that's a sign to continue the uptrend.
New ATH around ~$865, still attracting institutional capital.
If it breaks past $865, BNB has the potential to rise to $900. With a strong trend, allocation may be considered.
Altcoins
If altseason begins, capital flows from BTC/ETH will spread.
Choose altcoins with good market capitalization, strong fundamentals, and increasing volume — watch for FOMO spreading from BTC/BNB.
Should monitor top tokens with volume, to pick timely 'trend continuation'.
Raydium (RAY), Solana, GamingTokens
Inflation may ‘throw cold water’, but in a bull market, waves like PPI are just a momentum-building phase. Those who know how to leverage it will see BTC, ETH, and BNB preparing for a longer journey, rather than ending the game.
Follow #SaulBitman for early updates and the most grounded analysis of BTC and Altseason!
