On Thursday, U.S. July PPI data significantly exceeded expectations, with producer prices rising 0.9% month-on-month (expected 0.2%) and 3.3% year-on-year (expected 2.5%). Core PPI also far surpassed expectations. This has raised concerns in the market that the Federal Reserve may maintain high interest rates for longer, causing risk assets, including cryptocurrencies, to pull back. #美国7月PPI年率高于预期 #加密市场回调

Although employment data remained stable, initial jobless claims were 224,000, lower than expected, but it did not ease market tensions. CME FedWatch showed the probability of a rate cut in September dropped from 100% to 96%, indicating a cooling in market expectations.

💥 Bitcoin Supported by Corporate Buying

Despite inflation data weighing on the market, Bitcoin has recently been buoyed by corporate purchases. The corporate strategy driven by MicroStrategy has increased buying volume, with the world's sixth largest company, Metaplanet Inc, purchasing over $60 million in BTC this week, and fundraising is still ongoing. The total holdings of Strategy company have reached 628,946 Bitcoins. Additionally, the exchange Bullish Inc, backed by Peter Thiel, had a strong first day, with its stock price soaring nearly 90%, also boosting market confidence.

📊 Altcoin Performance Diverges

On Thursday morning, the crypto market briefly rose, but most coins retraced after the PPI announcement:

Ethereum (ETH) initially rose nearly 4%, reaching a high of $4,786, close to its historical peak, but then fell back to $4,546. Standard Chartered raised its 2025 price target for ETH from $4,000 to $7,500.

XRP fell 6% to $3.09

Solana (SOL) dropped 4.7%

Cardano (ADA) rose 4.3%, boosted by ETF plans

Dogecoin (DOGE) fell 8.4%, and the meme coin $TRUMP dropped over 5%

In summary, the recent crypto market has seen increased volatility: macro data pressures short-term sentiment, while corporate buying and project development still support the long-term trend. Investors should pay attention to key support levels and policy directions, cautiously positioning themselves on dips.