2 days ago
6
Key Takeaways
- Bitcoin hits $76,024, up 6.07% in 24 hours.
- Ethereum gains 9.04%, outperforming Bitcoin on the week.
- US PPI came in at 4.0% versus 4.6% forecast.
- Zcash up 37.93% on the week independent of today’s catalysts.
Two catalysts landed on April 14 and the crypto market priced both simultaneously. The US Bureau of Labor Statistics reported that the producer price index rose 4.0% year-on-year in March, significantly below the market forecast of 4.6% and above February’s 3.4% reading. Lower than expected inflation data removes pressure on the Fed and sends risk assets higher.
At the same time, diplomatic signals around US-Iran talks continued to build, Iran’s president said talks would continue, Pakistan offered to host a second round, and Trump said Iranian officials called wanting a deal. Geopolitical de-escalation and softer inflation ...
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