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PPI WAS BULLISH. PRICE ACTION WASN’T. PPI came in at 0.0% MoM vs 0.2% expected, but $BTC and $ETH still rejected the initial move. $BTC : 63,974 → 62,818 $ETH : 1,896 → 1,862 Why the sell-off? The market may have already priced in cooler inflation. When the data finally landed, fresh buyers were limited while traders took profit and leveraged positions unwound. Key levels now: $BTC — 63K–63.2K resistance | 62.8K support $ETH — 1,862–1,880 battleground | 1,860 key support This isn’t automatically a bull trap. The real signal is whether buyers can defend support after the PPI reaction. Macro remains in focus: PCE → Jackson Hole → Fed expectations → liquidity Bullish data can still produce bearish price action when positioning gets too crowded. The question isn’t just whether the news is good. It’s whether the market already priced it in.