#MarketTurbulence This week something surprising happened: $1 billion was liquidated in a matter of hours. And all because the U.S. Producer Price Index, PPI, rose a little more than expected. No, you haven't made a mistake. It wasn't an explosion at a mining farm, nor the banning of bitcoin in some state, nor even a tweet from Elon Musk. A number simply came out in the report, and traders lost their minds.

Bitcoin even fell below $112,000, although not long ago we were told it 'wouldn't drop below a hundred thousand.' Of course, of course. We were also told that coffee prices wouldn't rise if wages were increased at Starbucks.

And so, while bitcoin tried to remember who it is - a future asset or simply a modern equivalent of gold, Ethereum ETFs received a sudden gift in the form of $729 million in inflows. Institutions say: 'Oh, panic? Great, we buy!'.