US PPI rose 6.3% year-on-year in September, higher than the market expectation of 5.3%; it rose 1.3% month-on-month, also well above the expected 0.5%. Meanwhile, retail sales rose 0.8% month-on-month, also above expectations.

For BTC, short-term macro pressure is indeed increasing. However, weak data does not necessarily mean BTC will fall. The current macro environment is bearish, so caution is warranted regarding short-term wicks in BTC. Next, focus on whether the US dollar and Treasury yields continue to rise, and whether BTC's rebound has momentum. If macro pressure increases while BTC remains unable to break through the previous resistance level, the view that the market will remain range-bound with a bearish bias still holds.
#每周来晒