Crypto Markets Rally as Traders Digest PPI Data
The post Crypto Markets Rally as Traders Digest PPI Data appeared on BitcoinEthereumNews.com. Bitcoin and Ethereum post gains after softer PPI data while ETFs see steady inflows. Major digital assets posted gains on Wednesday, July 16, after core Producer Price Index (PPI) inflation data came in cooler-than-expected. Bitcoin (BTC) is currently trading at $119,560, up 2.4% on the day, about 2.6% shy of its latest all-time high of $122,800, recorded on Monday, July 14. Ethereum (ETH) jumped nearly 9% over the past 24 hours to trade around $3,312 — its highest price since February — making it the best performer today among the top-20 crypto assets. ETH has had a strong week, up over 25%. ETH 7-day price chart. Source: CoinGecko Solana (SOL) followed with a 7.4% gain to $173 today, while XRP rose 5% to break over $3, up nearly 28% over the past week. Total crypto market capitalization remained flat in the past 24 hours at approximately $3.89 trillion, according to CoinGecko. Trading volume over the same period reached $206 billion, down from $211 billion recorded the day before. Liquidations and ETFs Over the past 24 hours, more than $366 million in crypto positions were liquidated, according to CoinGlass data, with the largest single order (worth $2.43 million for ETH/USDT) occurring on Binance. Short positions made up the majority of the wipeout, totaling $283 million. Ethereum led liquidations with $167 million, followed by Bitcoin with around $55 million. U.S. spot Bitcoin ETFs pulled in over $402 million in inflows on July 15, according to SoSoValue, while spot Ethereum ETFs attracted a more modest $192 million. It marked the ninth straight day of net inflows for both products. PPI and CPI The latest price action comes as traders weigh the latest PPI data, which stayed flat in June instead of rising 0.2% as expected. Core PPI also showed no change. Goods prices…
The post Crypto Markets Rally as Traders Digest PPI Data appeared on BitcoinEthereumNews.com.
Bitcoin and Ethereum post gains after softer PPI data while ETFs see steady inflows. Major digital assets posted gains on Wednesday, July 16, after core Producer Price Index (PPI) inflation data came in cooler-than-expected. Bitcoin (BTC) is currently trading at $119,560, up 2.4% on the day, about 2.6% shy of its latest all-time high of $122,800, recorded on Monday, July 14. Ethereum (ETH) jumped nearly 9% over the past 24 hours to trade around $3,312 — its highest price since February — making it the best performer today among the top-20 crypto assets. ETH has had a strong week, up over 25%. ETH 7-day price chart. Source: CoinGecko Solana (SOL) followed with a 7.4% gain to $173 today, while XRP rose 5% to break over $3, up nearly 28% over the past week. Total crypto market capitalization remained flat in the past 24 hours at approximately $3.89 trillion, according to CoinGecko. Trading volume over the same period reached $206 billion, down from $211 billion recorded the day before. Liquidations and ETFs Over the past 24 hours, more than $366 million in crypto positions were liquidated, according to CoinGlass data, with the largest single order (worth $2.43 million for ETH/USDT) occurring on Binance. Short positions made up the majority of the wipeout, totaling $283 million. Ethereum led liquidations with $167 million, followed by Bitcoin with around $55 million. U.S. spot Bitcoin ETFs pulled in over $402 million in inflows on July 15, according to SoSoValue, while spot Ethereum ETFs attracted a more modest $192 million. It marked the ninth straight day of net inflows for both products. PPI and CPI The latest price action comes as traders weigh the latest PPI data, which stayed flat in June instead of rising 0.2% as expected. Core PPI also showed no change. Goods prices…
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