Cooler US PPI Catches a $52 Million Bitcoin Bear Off Guard
US PPI data showed producer prices rising less than expected in October, and Bitcoin (BTC) jumped within minutes. The move caught bearish traders off guard, wiping out about $39 million in short bets within an hour, CoinGlass data shows. One trader who bet $52 million on a drop now sits under 2% from a forced The post Cooler US PPI Catches a $52 Million Bitcoin Bear Off Guard appeared first on BeInCrypto.
Key Takeaways
- US PPI data showed producer prices rising less than expected in October, and Bitcoin (BTC) jumped within minutes.
- The move caught bearish traders off guard, wiping out about $39 million in short bets within an hour, CoinGlass data shows.
- One trader who bet $52 million on a drop now sits under 2% from a forced The post Cooler US PPI Catches a $52 Million Bitcoin Bear Off Guard appeared first on BeInCrypto.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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