📉😢Bitcoin in decline: The inflation that shook the market
The story unfolds in a scenario of optimism. Bitcoin, majestic, had just reached a new all-time high, surpassing the mark of US$ 124.400. Euphoria took over the investors, who, driven by the belief in a continuous rise, were positioned for even greater gains. The narrative was clear: the queen cryptocurrency was on an upward trajectory, heading for new records.
But, like a bolt from a blue sky, the news of the Producer Price Index (PPI) inflation in the US arrived, with a surprising and unexpected increase. That data, which seemed distant from the world of cryptocurrencies, acted like an earthquake, shaking the foundations of the entire risk asset market. The hope for a cut in interest rates by the Federal Reserve in September faded, giving way to uncertainty and fear.
The news generated a wave of panic. In just a few hours, confidence turned into liquidation. Long positions, betting on the rise, were swept from the market, resulting in losses of hundreds of millions of dollars. Bitcoin, which just minutes before was the king of the market, was now struggling to stay above US$ 117.600. Euphoria gave way to a brutal correction, and the story of Bitcoin once again proved that, even at its highest peaks, it is still susceptible to the winds of the global financial macro environment. The dream of an endless ascent was abruptly interrupted, and the crypto community wonders: how long will this winter last?
