U.S. April PPI Year-over-Year +6.0%, Core PPI +5.2%, both the highest since December 2022; Monthly rate +1.4% is nearly three times the expected.


After the data was released, BTC dropped below $81,000 to break $80,000, now at $79,319 (−1.47%). The Nasdaq rose 1.2% on the same day— the hotter the inflation, the softer BTC, and stocks actually outperformed.
This is the logical trap of BTC's inflation hedge narrative: hot inflation → rising rate hike expectations → tightening liquidity → falling risk assets. When CPI peaked at 8.5% in 2022, BTC fell 74%, and after PPI broke 9% in 2021, BTC halved by 55%. BTC has never been an inflation hedge; it is a liquidity hedge.
Inflation narrative is BTC's outer shell; liquidity is BTC's lifeline. On the day PPI hit 6%, two things happened simultaneously: inflation was at its hottest, and BTC was at its softest. #Gate广场五月交易分享 #美国4月PPI同比暴涨6% $BTC
BTC2.39%
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