Crypto
Bitcoin's Price Stuck in Tight Range Ahead of PPI Data Release
Bitcoin's price is stuck in a tight range, hovering around $78,145 after a 1.32% drop in the last 24 hours.
The key U.S. economic data release later today will be closely watched by traders, particularly the Producer Price Index (PPI) numbers.
Core PPI is expected to come in at 0.3%, while headline PPI is forecast at 0.4%. The numbers could have a significant impact on risk assets like Bitcoin.
The derivatives market is showing signs of stress, with higher volume paired with lower open interest often pointing to traders closing out positions rather than opening new ones.