#MarketTurbulence This week, something amazing happened: $1 billion was liquidated in just a few hours. And all of this happened because the U.S. Producer Price Index, PPI, rose a bit more than expected. You heard that right. It wasn’t an explosion at a mining farm, nor a ban on bitcoin in some state, and not even a tweet from Elon Musk. Just a number came out in the report, and traders lost their minds.

Bitcoin even managed to drop below $112,000, although we were recently told that "below a hundred thousand it wouldn’t go anymore." Sure, sure. And we were also told that coffee wouldn’t rise in price if we raised salaries at Starbucks.

And here we are, while bitcoin tried to remember who it is - a future asset or just a trendy version of gold, the Ethereum ETF received an unexpected gift of $729 million in inflow. Institutions are saying: "Oh, panic? Great, let’s buy!".

Why is this important? Because the cryptocurrency, once promoted as independent from the system, now reacts to macroeconomic news faster than the bond market. We live in a world where bitcoin fears inflation, while Ethereum rejoices when everyone is nervous.

And here’s the big question:

Is it the end of the romanticization of cryptocurrencies or the beginning of a new game?

If you ask the old bitcoineers, they will say: "Just hodle". If you ask the traders, they will say: "Put a stop-loss and pray". Or to the speculators: "Buy in panic and sell in euphoria, as every good speculator has done for the last 300 years."

And for now: the market is not about technology, it’s not about freedom, it’s not about blockchain. The market is a theater. And the tickets for the best seats are more expensive. Especially when backstage is the PPI.