PPI offers crypto bulls another win, but BTC and ETH are both struggling to head higher.
Inflation subsiding faster has traditionally buoyed cryptoasset performance as it raises hopes that U.S. economic policy will become less restrictive.
A key event for market participants now will be the Federal Reserve’s next interest rate change, the decision on which is due in May., expectations still favored a further rate hike of 0.25%, with PPI notably doing little to change the mood.While holding $30,000 as support, meanwhile, Bitcoin failed to convince everyone that its ten-month peak would stay.Monitoring resource Material Indicators warned of a bearish signal on its proprietary trading tools, within a broader bullish context.
Both Trend Precognition algos are showing red on the BTC Daily chart. Signals are tentative, but both algos on the same candle has historically had a high probability of accuracy so these are the signals I'll often act early on. Of course PPI coming at 8:30am might make things…
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