{"id":510245,"date":"2022-11-15T18:10:08","date_gmt":"2022-11-15T15:10:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation\/"},"modified":"2022-11-15T18:10:08","modified_gmt":"2022-11-15T15:10:08","slug":"bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation\/","title":{"rendered":"# Bitcoin price hits $17K on US PPI as trader warns of &#8216;final capitulation&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c59fea0aa4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c59fea0aa4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation\/#%E2%80%9D_Bitcoin_price_hits_17K_on_US_PPI_as_trader_warns_of_%E2%80%98final_capitulation_%E2%80%9C\" >&#8221; Bitcoin price hits $17K on US PPI as trader warns of &#8216;final capitulation&#8217; &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation\/#%E2%80%9CGood%E2%80%9D_PPI_boosts_risk_assets\" >&#8220;Good&#8221; PPI boosts risk assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation\/#Bullish_divergences_meet_%E2%80%9Cfinal_capitulation%E2%80%9D_risk\" >Bullish divergences meet &#8220;final capitulation&#8221; risk<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_hits_17K_on_US_PPI_as_trader_warns_of_%E2%80%98final_capitulation_%E2%80%9C\"><\/span>&#8221; Bitcoin price hits $17K on US PPI as trader warns of &#8216;final capitulation&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-e13e51fa>Bitcoin (BTC) spiked to $17,000 at the Nov. 15 Wall Street open as fresh United States economic data continued to show inflation cooling.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/f22bc89a-9591-496a-a3db-b90ac8fdec05.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CGood%E2%80%9D_PPI_boosts_risk_assets\"><\/span>&#8220;Good&#8221; PPI boosts risk assets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> followed BTC\/USD as it came closer to multi-day highs.<\/p>\n<p>Volatility had returned an hour before the open as the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/charts\/producer-price-index\/final-demand-12-month-percent-change.htm\">U.S. Producer Price Index (PPI)<\/a> came in below expectations.<\/p>\n<p>Core PPI was unchanged month on month, with PPI overall up 0.2% versus 0.4% forecast. Year-on-year PPI was 8% versus 8.3% forecast.<\/p>\n<p>The data, already in stark contrast to last month\u2019s PPI, follows on from October\u2019s Consumer Price Index (CPI) readout last week, this also showing that price increases in the U.S. were slowing.<\/p>\n<p>An ostensibly good sign for crypto along with risk assets, lower numbers theoretically increase the likelihood of an earlier pivot in hawkish economic policy from the Federal Reserve.<\/p>\n<p>\u201cGood CPI &amp; Good PPI,\u201d Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1592523402891636736\">reacted<\/a>.<\/p>\n<p>Others were more suspicious of the results in light of such aggressive quantitative tightening (QT) measures.<\/p>\n<p>\u201cThe PPI is the inflation number Fed uses to make decisions,\u201d popular analyst Venturefounder <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/venturefounder\/status\/1592519319195619331\">wrote<\/a> in part of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analysis. <\/p>\n<blockquote><p>\u201cMarket rallies on the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, inflation may have peaked but I think the most alarming part is after record QT for almost a year the PPI is still at 8%.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/f42f558d-4a2d-463c-9495-bbbf798b4d52.png\"><figcaption style=\"text-align: center;\"><em>U.S. Producer Price Index (PPI) chart. Source: Bureau of Labor Statistics<\/em><\/figcaption><\/figure>\n<p>Stocks naturally <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>reciated the latest economic changes, with the S&amp;P 500 and Nasdaq Composite Index up 1.7% and 2.4%, respectively at the open.<\/p>\n<p>The already precarious U.S. dollar index (DXY) meanwhile felt the pressure, briefly dropping below 105.5 to its lowest levels since mid-August.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/f3a39bc4-9f8f-43cf-b4eb-d4650132ddb4.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bullish_divergences_meet_%E2%80%9Cfinal_capitulation%E2%80%9D_risk\"><\/span>Bullish divergences meet &#8220;final capitulation&#8221; risk<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For Bitcoin, optimism was still hard to find in analytical circles.<\/p>\n<p><strong><em>Related: Edward Snowden says he feels \u2018itch to scale back in\u2019 to $16.5K Bitcoin<\/em><\/strong><\/p>\n<p>Nonetheless, for trader and analyst Seth, a fresh bullish divergence on the weekly chart was something to feel confident about.<\/p>\n<p>\u201cBears took credit for the FTX Blackswan. Not many knew 2nd largest Exchange was going Bankrupt!\u201d accompanying Twitter comments <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/seth_fin\/status\/1592526267169247232\">stated<\/a>.<\/p>\n<p>Bleaker news came from fellow analyst Matthew Hyland, whose previous warning of a bearish chart cross came true.<\/p>\n<p>\u201cThe previous two crosses resulted in -46% and -57% moves AFTER the cross was confirmed,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MatthewHyland_\/status\/1592501896253935616\">reiterated<\/a> about the three-day chart\u2019s moving average convergence\/ divergence (MACD) indicator.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/047acf74-f220-417c-b982-e84fdd4a1644.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Matthew Hyland\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Il Capo of Crypto, still eyeing a deeper macro low, meanwhile <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1592442769334673408\">added<\/a> that \u201cfinal capitulation is likely.\u201d<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-hits-17k-on-us-ppi-as-trader-warns-of-final-capitulation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price hits $17K on US PPI as trader warns of &#8216;final capitulation&#8217; &#8220; Bitcoin (BTC) spiked to $17,000 at the Nov. 15 Wall Street open as fresh United States economic data continued to show inflation cooling. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView &#8220;Good&#8221; PPI boosts risk assets Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYjE1ODYyNzYtMDIwOS00MjI4LWI2ZTgtN2UzMGY4NGE3ZWYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70551,73785],"class_list":["post-510245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510245"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510246"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}