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PPI Shock Sends Bitcoin to $114K as ETF Flows Flood Back
Key Takeaways
- U.S. August PPI YoY came in at 2.6% and MoM at –0.1%. This reflected a material cooling of wholesale inflation, with markets rallying.
- Bitcoin pushed to $114,000 after the print, crossing the decisive $113,000 level, while spot BTC ETFs recorded $757 million net inflows on Sept 10 (third straight day).
- Ethereum spot ETFs posted $172 million in inflows yesterday while Bitmine received 46,255 ETH ($201 million), taking its holdings to 2,126,018 ETH ($9.24 billion).
- Futures open interest jumped to 84.86 billion for BTC, as liquidations eased to 37.96 million, with shorts bearing the brunt.
- CPI tomorrow is the near-term event risk; a second downbeat print would likely accelerate the current risk-on move.
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