Bitcoin: Fully Recovers From PPI Data Shock
The @BullTheoryio tweet details how Bitcoin erased all losses after PPI printed 6.3% versus 5.3% expected, recovering from a $1,300 drop to $79,800 back to $82,600 within hours.
SourceAnalysis
Bitcoin has now completely erased the losses made after PPI data came in at its highest level in almost 4 years, according to the @BullTheoryio post. At 8:30 AM ET the print hit 6.3% against 5.3% expected; by 9:54 AM ET price dumped $1,300 to $79,800 before climbing $2,800 from the low to $82,600 by 11:40 AM ET.
Price sits at $82174.18 inside the Bollinger band on the 4h chart, with the upper band at $84468.76 acting as immediate resistance and the lower band at $80722.48 marking short-term support. The structure remains bearish as price trades below both EMA50 at $82975.66 and EMA200 at $82244.5 while the MACD death cross at -408.91 confirms trend weakness; neutral RSI at 46.79 shows no overbought condition to fuel further upside without a retest of the 50-EMA first.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.