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Key Takeaways
- April PPI +1.4% MoM vs. +0.5% forecast, largest since March 2022.
- BTC at $79,800, below $80K, down 0.50% on the session.
- Price sits 1,058 dollars below MA200, more than seven cluster-widths beneath MAs.
- RSI at 31.31, signal at 50.19, spread of 18.88 points: approaching oversold.
- STH reset structure now under direct pressure at $79,800.
What the inflation print contained
The U.S. Bureau of Labor Statistics released April’s Producer Price Index on May 13, and the number landed hard. Headline PPI rose 1.4% month-over-month against a Dow Jones consensus of 0.5%, the largest single-month wholesale inflation gain since March 2022. Year-over-year, headline PPI reached 6.0%, above the 4.9% expectation and matching its highest reading since December 2022. Core PPI, stripping out food and energy, rose 1.0% for the month against a 0.4% forecast.
The comp...
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