Crypto Market on Edge: Inflation, Liquidations, and No U.S. Bitcoin Buying Plan Shake Up BTC’s Stand
U.S. PPI surprises to the upside, $420M in crypto liquidations, and Treasury says no Bitcoin buying — now Bitcoin and Google battle for the 5th spot in global market cap rankings.
Latest Developments in the Crypto Market
1. U.S. Inflation Miss: PPI Hits 3.3%
The U.S. Producer Price Index (PPI) jumped to 3.3%, exceeding analysts’ expectations. This signals persistent inflationary pressure, potentially delaying Federal Reserve rate cuts. Such an outcome is bearish for risk assets like Bitcoin, as tighter monetary policy limits liquidity.
2. $420 Million in Crypto Liquidations
The crypto market saw a $420 million liquidation wave within 20 minutes, likely triggered by leveraged long positions being wiped out. This rapid forced selling underscores how fragile sentiment and prices can be amid sudden market shifts.
3. Treasury Chief: “No Bitcoin Buying”
Treasury Secretary Bessent confirmed that the U.S. government has no plans to purchase Bitcoin. While unsurprising, the explicit statement deflates any remaining hope for sovereign-level demand, removing a potential bullish catalyst.
Market Cap Battle: Google vs Bitcoin
Before the news wave, Bitcoin briefly overtook Google (Alphabet) in market capitalization, becoming the 5th largest asset globally with a valuation around $2.456 trillion.
Current rankings suggest BTC may have slipped slightly below Google again, though the gap remains narrow and could shift with market moves.
What It Means for Bitcoin
Hot inflation data, mass liquidations, and no policy support combine to weaken short-term demand and momentum for BTC. The market cap race between Bitcoin and Google is now tight, with volatility likely to determine the next holder of the 5th spot.
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Looking Ahead
- Reclaiming the 5th spot: BTC needs renewed buying momentum to pull ahead of Google again.
- Further downside risk: Continued weakness could widen the gap in Google’s favor.
- Volatility warning: With $420M already liquidated and macro sentiment fragile, traders should prepare for sharp, rapid price moves.
$BTC, $Bitcoin
Rudy Fares
Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.
Regular updates on Web3, NFTs, Bitcoin & Price forecasts.
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