The crypto market has seen a brief recovery following Friday’s softer than expected US producer inflation report, with Bitcoin rebounding toward $70,000 after heavy selling pushed it below $69,000 earlier in the day.
Summary
- US producer prices rose 0.3% in October, below the 0.4% forecast, while annual inflation reached 6.5%.
- Bitcoin briefly recovered toward $70,000 after the PPI release, triggering roughly $39 million in short liquidations.
- More than $1.4 billion in leveraged crypto positions were liquidated over 24 hours as Bitcoin and Ethereum faced heavy selling.
- Swyftx analyst Pav Hundal said softer inflation could weaken the dollar and ease selling pressure on…
