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Bitcoin just fell below $118,000 from its new all-time high of $124,000 after the surprising PPI data.
Expectation was 2.5%, but it came in at 3.3%, which shows that tariffs will increase inflation. Higher inflation means the Fed will hesitate to cut rates, and the market didn’t like this news.
For BTC support is at $117,500;
if it loses support, it might test $110,000.
Resistance is at $124,000.
Tariffs are affecting manufacturing. This could impact CPI next month. Low jobs and high inflation are a problem for the Fed.
Keep an eye on today’s ETF report.
#ETH #SOL #XRP
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