PPI hits 6%. The highest since 2022. Naturally, the market panicked. BTC touched $78,898 and immediately got slapped back up. Classic.
Market Overview
Total cap is sitting at $2.71T. Basically flat on the week, but we're up $280.75B from last month. BTC dominance is creeping up to 59.79%. Why? Because US producer inflation data spooked everyone. Over $250M in long positions got liquidated in four hours. Pain incoming for the over-leveraged. But then the Senate confirmed Kevin Warsh as Fed Chair in a 54-45 vote. He's pro-crypto. Suddenly, the dip got bought. Charles Schwab opening spot BTC and ETH trading for retail didn't hurt either.
Bitcoin & Majors
BTC managed to close up 0.69%, adding $11.2B to its cap. Not bad for a day that started with macro panic. ETH is trailing slightly, up 0.9%, despite $130.6M bleeding out of spot ETFs for the second straight day. BNB is the quiet outperformer here, up 2.19%. Smart money is still buying. One whale scooped up 21,800 ETH ($46.99M) today. They don't care about a 6% PPI print.
Outliers
The real drama is in the Solana AI sector. PreStocks for Anthropic and OpenAI got absolutely slaughtered. The SPV share transfers backing them were declared invalid. If you held those, you got rekt. On the flip side, Hyperliquid is printing money. a16z just threw $67.4M at HYPE, staking 1.3M tokens. Follow the money.
$BTC (+0.69%): Dipped under $80k on inflation fears, then rebounded hard on Warsh's Fed confirmation and Schwab retail access. $ETH (+0.90%): Staking yields and ETF outflows are fighting a tug-of-war. Whales are accumulating, but institutional ETF buyers are hitting the bid. $BNB (+2.19%): Quietly absorbing liquidity while everyone else screams about macro. $VVV (-5.86%): Venice Token taking a hit. Profit taking after recent runs.
Sentiment
My read: The market is schizophrenic right now. You have macro bears screaming about 1998-level bond yields and Middle East inflation shocks. Then you have Wall Street quietly building infrastructure. Fidelity launching Chainlink-based tokenized funds. JPMorgan doing Ethereum treasury funds. The Clarity Act is literally on the Senate floor Thursday. I'm watching the $80k level on BTC. If we hold it through Thursday's vote, $90k is a magnet. Could be wrong here, but betting against Wall Street's plumbing upgrades is usually a bad idea.
