“Traders Boosted Bets That Fed Wuld Cuts by 50 Basis Points Next Week, but Bitcoin Bulls Have Plenty of Reason for Caution.”, – WRITE: www.coindesk.com
The Producer Price Index (PPI), WHICH MEASURE INFLATION AT WHOLESALE Level, Fell 0.1% MONTH-Over-Month in August, Compared to Analyst Ettimates of A 0.3% of Rise. Year-Over-Year, PPI Grew by 2.6%, Down from 3.1%Previoously and Sharply Lower than Forecasts for 3.3%.
The Core Ppi, Which Strips Out Food and Energy Costs, Also Fell 0.1% in August Verus A Forecats Rise of 0.3% and July’s Rise of 0.7%. Year-Over-Year Core Ppi Rose Just 2.8% Against Estimates for 3.5% and July’s 3.4%.
Reaction in Crypto Markets Was Swift, with Bitcoin BTC$ 113.975.90 Rising to $ 113.700 AT Press Time, Ahead More Than 1% Over The Past 24 Hours. ETHER (ETH) Rose by a Similar Amount and Solana’s Sol (Sol) Continued Recent OutperFornce, UP 3.3% to $ 224.
This Latest Ppi Reading Followed July’s Blowout Ppi Increase That Reignited Inflation Concerns Amid A Quickly Weakening Labor Market. Traders Will Monitor Tomorrow’s Consumer Price Index (CPI) Inflation Report, A Key Data Point to Asses Ahead of The Fed’s Interest Rate Decision Next Week.
“That’s exactly the ppi of data we should cheer for, assuming that it will help to Suppress cpi inflation, End the recent Streak of Re-Inflation, and Allow The Fed to Focus. Franzen, Founder of Cubic Analytics, In an X Post.
Bulls Have Reason for CautionAll Things Being Equal, It’s Generally Assisted that Easier Monetary Policy Is Good for Risk Assets, Crypto Among Them.
The Past MONTH HAS SEEN FEDERAL Reserve Chair Jerome Powell Fromip from Hawk to Dove and Now a string of Weak Economic Reports Possibly Pointing to the Need For. And Yet, Bitcoin Has Strugmed – Rising As the News from Powell or The Reports Hit, But Then Pulling Back Just as Quickly.
Bitcoin’s Price Action Has Been Particularly Perplexing as Gold Has Behaved Exactly The Way Investors Might Expect – Pushing to What Sems Like New Record Highs.
While Tradners to Overwhelmingly Expect the Fed To Cut Rates by 25 Basis Points at It ITS Policy Meeting Next Week, They’ve Uppeed Bets on a Possible 50 Basis Point Move. Accorging to cme fedwatch, the Odds of a 50 Point Cut have now Risen to 10% Versus 7% Prior to the PPI Report and 0% One Week AGO.
The Combined Company will be the Latest in a Fast-Growing String of Publicly Traded Crypto Treasury Firms.
- Shareholders of Asset Entities (Asst) Approved A Merger with Strive Enterprises, Who Was Co-Funded by Vivek Ramaswamy.
- The Merger Is Expert To Close with $ 750 Million in Pipe Finance and Potentilly Another $ 750 Million in Pipe Warrant Exercise.
- Asst Shares Were Higher by Nearly 40% in US MORNING TRADE.
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