#BTC走势分析
US PPI data far exceeds expectations
The U.S. Department of Labor announced that the Producer Price Index (PPI) for July surged 3.3% year-on-year, far exceeding the market expectation of 2.5%, marking the largest increase in three years. What is even more concerning is that this increase is not driven by a single category, but rather a comprehensive surge in the costs of goods and services. Ole Hansen, the Head of Commodity Strategy at Saxo Bank, sharply pointed out that this unexpectedly high PPI data is likely to indicate that the upcoming July Core PCE inflation data will also rise.
The unexpected rise in inflation data directly undermined market confidence. Previously, some traders had bet that the Federal Reserve might implement a massive 50 basis point rate cut in September, and the release of this news immediately dampened that expectation.
In fact, the market has reached a position that requires adjustment. Yesterday's article highlighted the risks of a downturn; the release of the data merely accelerated the pace of adjustment and volatility. For long-term traders, the risks are becoming more apparent. High positions will not hedge against risk; the money you make is only temporarily in your possession and does not truly belong to you.
Bitcoin surged to the position of 124500 yesterday but closed down sharply without rebounding, stabilizing only around 117000 last night. Here, pay attention to whether the rebound strength at 120000 can effectively break through, and act accordingly with conservative trading.
Ethereum's high is close to 4800, with a pullback low at 4450, which is quite a strong performance. Coming down, it is also a preferred currency for buying; resistance is at 4700-4760, and support is at 4550-4480. I believe Ethereum will enter a consolidation phase, allowing for high selling and low buying in trading.
