{"id":12876,"date":"2025-02-13T12:03:26","date_gmt":"2025-02-13T12:03:26","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12876"},"modified":"2025-02-13T12:03:26","modified_gmt":"2025-02-13T12:03:26","slug":"crypto-daybook-americas-bitcoin-eyes-ppi-for-post-cpi-guidance-on-fed","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12876","title":{"rendered":"Crypto Daybook Americas: Bitcoin Eyes PPI for Post-CPI Guidance on Fed"},"content":{"rendered":"
\n

By James Van Straten (All times ET unless indicated otherwise)<\/p>\n

After Wednesday\u2019s unexpectedly high consumer price inflation<\/a> (CPI) figures, all eyes now turn to the produce price report due at 8:30 a.m. <\/p>\n

Analysts expect year-over-year PPI to come in at 3.2%, below December\u2019s 3.3%, with a month-on-month reading of 0.3%, up from 0.2%. Core PPI, which strips out volatile food and energy prices, is expected to show underlying inflationary pressure, accelerating to 0.3% from 0% in December. From January last year, it’s seen easing to 3.3%.<\/p>\n

Hotter-than-expected data could signal monetary policy remains too loose, potentially delaying or even eliminating Fed rate cuts this year, against President Trump’s wishes. A more restrictive Fed is likely to be bearish for risk assets. On the other hand, softer inflation data could weaken the dollar and lower treasury yields while helping boost risk-assets. <\/p>\n

Following the CPI data markets were volatile. <\/p>\n

Treasury yields surged to 4.6% before retreating slightly. The Dollar Index (DXY) mirrored this movement, spiking to 108.5 before pulling back below 108.<\/p>\n

Despite the initial sell-off, major asset classes rebounded<\/a>, with bitcoin (BTC<\/a>), U.S. equities and gold finishing the session in the green. <\/p>\n

Also on the agenda, Coinbase (COIN) reports fourth-quarter earnings after the market closes. Following Robinhood’s strong results<\/a>, expectations are high, and a positive report could provide a boost to the cryptocurrency market. Stay Alert!<\/p>\n

What to Watch<\/h2>\n

Crypto:<\/p>\n

Feb. 13: Start of Kraken’s gradual delisting<\/a> of the USDT, PYUSD, EURT, TUSD, UST stablecoins for EEA clients. The process ends March. 31.<\/p>\n

Feb. 13: Story (IP) mainnet launch<\/a>.<\/p>\n

Feb. 14: Dynamic TAO (DTAO) network upgrade<\/a> goes live on the Bittensor (TAO) mainnet.<\/p>\n

Feb. 14, 2:30 a.m.: Qtum (QTUM) hard fork network upgrade<\/a>.<\/p>\n

Feb. 18, 10:00 a.m.: FTX Digital Markets, the Bahamas-based subsidiary of FTX, starts reimbursing creditors<\/a>.<\/p>\n

Feb. 21: TON (The Open Network) becomes the exclusive blockchain infrastructure<\/a> for messaging platform Telegram\u2019s Mini App ecosystem.<\/p>\n

Macro<\/p>\n

Feb. 13, 8:30 a.m.: The U.S. Bureau of Labor Statistics (BLS) releases January\u2019s Producer Price Index (PPI) report.<\/p>\n

Core PPI MoM Est. 0.3% vs. Prev. 0%<\/p>\n

Core PPI YoY Est. 3.3% vs. Prev. 3.5%<\/p>\n

PPI MoM Est. 0.3% vs. Prev. 0.2%<\/p>\n

PPI YoY Prev. 3.3%<\/p>\n

Feb. 13, 8:30 a.m.: The U.S. Department of Labor releases the Unemployment Insurance Weekly Claims report for the week ended Feb. 8.<\/p>\n

Initial Jobless Claims Est. 215K vs. Prev. 219K<\/p>\n

Feb. 14, 8:30 a.m.: The U.S. Census Bureau releases January’s Retail Sales data.<\/p>\n

Retail Sales MoM Est. -0.1% vs. Prev. 0.4%<\/p>\n

Retail Sales YoY Prev. 3.9%<\/p>\n

Earnings<\/p>\n

Feb. 13: Coinbase Global (COIN<\/a>), post-market, $2.11<\/p>\n

Feb. 14: Remixpoint (3825)<\/p>\n

Feb. 18: CoinShares International (CS<\/a>), pre-market<\/p>\n

Feb. 18: Semler Scientific (SMLR<\/a>), post-market<\/p>\n

Feb. 20: Block (XYZ<\/a>), post-market, $0.88<\/p>\n

Token Events<\/h2>\n

Governance votes & calls<\/p>\n

Curve DAO is voting on increasing 3pool\u2019s amplification coefficient<\/a> to 8,000 over 30 days and raise admin fees to 100%. To optimize liquidity, as part of an experiment, 3pool will have higher fees while Strategic Reserves will offer lower fees.<\/p>\n

Aave DAO is discussing using GHO as a gas token<\/a> across various networks. The framework proposes using the canonical network bridge to mint GHO directly as a gas token.<\/p>\n

Unlocks<\/p>\n

Feb. 14: The Sandbox (SAND) to unlock 8.4% of circulating supply worth $80.5 million.<\/p>\n

Feb. 16: Arbitrum (ARB) to unlock 2.13% of circulating supply worth $45.1 million.<\/p>\n

Feb. 16: Avalanche (AVAX) to unlock 0.4% of circulating supply worth $42.8 million.<\/p>\n

Feb. 21: Fast Token (FTN) to unlock 4.66% of circulating supply worth $79 million.<\/p>\n

Feb. 28: Optimism (OP) to unlock 2.32% of circulating supply worth $34.8 million.<\/p>\n

Token Launches<\/p>\n

Feb. 13: EthereumPoW (ETHW) and Polygon (MATIC) to no longer be supported at Deribit.<\/p>\n

Feb. 13: Story (IP) to be listed on Bybit, Bitrue, Bitget, MEXC, KuCoin, and OKX, among others.<\/p>\n

Feb. 14: Pudgy Penguins (PENGU) to be listed on Coinbase<\/a>, according to a post shared by the Pudgy Penguins account.<\/p>\n

Conferences:<\/h2>\n

CoinDesk’s Consensus to take place in\u00a0Hong Kong on Feb. 18-20<\/a>\u00a0and in\u00a0Toronto on May 14-16<\/a>. Use code DAYBOOK and save 15% on passes.<\/p>\n

Day 2 of 2: Frankfurt Digital Finance (FDF) 2025<\/a><\/p>\n

Day 1 of 2: The 4th Edition of NFT Paris<\/a>.<\/p>\n

Feb. 18-20: Consensus Hong Kong<\/a><\/p>\n

Feb. 19: Sui Connect: Hong Kong<\/a><\/p>\n

Feb. 23 to March 2: ETHDenver 2025<\/a> (Denver, Colorado)<\/p>\n

Feb. 24: RWA London Summit 2025<\/a><\/p>\n

Feb. 25: HederaCon 2025<\/a> (Denver)<\/p>\n

Derivatives Positioning<\/h2>\n

Funding rates in perpetual futures tied to SOL, TRS, TRON and DOT remain negative, indicating a bias for shorts, data from Coinglass and Velo Data show.<\/p>\n

Annualized funding rates in BTC and ETH hover near 5%. <\/p>\n

Most major coins, excluding BNB, have seen negative open-interest-adjusted cumulative volume deltas, a sign of net selling pressure, which raises a question mark on the sustainability of Wednesday’s post-U.S. CPI recovery. <\/p>\n

BTC and ETH options skews are positive across the board, reflecting a bull bias. <\/p>\n

Flows, however, have been muted, with some demand for out-of-the-money higher strike ETH calls, according to data sources Deribit and Paradigm. <\/p>\n

Market Movements:<\/h2>\n

BTC is down 1.53% from 4 p.m. ET Wednesday to $96,206.67 (24hrs: -0.02%)<\/p>\n

ETH is down 0.23% at $2,677.69 (24hrs: +1.79%)<\/p>\n

CoinDesk 20 is down 0.71% to 3,201.06 (24hrs: +0.66%)<\/p>\n

Ether CESR Composite Staking Rate is down 5 bps to 3.05%<\/p>\n

BTC funding rate is at 0.0005% (0.5606% annualized) on Binance<\/p>\n<\/p>\n

\"\"<\/p>\n

DXY is down 0.34% at 107.58<\/p>\n

Gold is up 1.26% at $2945.7\/oz<\/p>\n

Silver is up 0.49% to $32.85\/oz<\/p>\n

Nikkei 225 closed up 1.28% at 39,461.47<\/p>\n

Hang Seng closed -0.20% at 21,814.37<\/p>\n

FTSE is down 0.74% at 8,742.63<\/p>\n

Euro Stoxx 50 is up 1.23% to 5,471.99<\/p>\n

DJIA closed Wednesday -0.50% at 44,368.56<\/p>\n

S&P 500 closed -0.24% at 6,051.97<\/p>\n

Nasdaq closed 0.03% at 19,649.95<\/p>\n

S&P\/TSX Composite Index closed -0.27% at 25,563.1<\/p>\n

S&P 40 Latin America closed -0.93% at 2,421.78<\/p>\n

U.S. 10-year Treasury rate was down 2 bps at 4.61%<\/p>\n

E-mini S&P 500 futures are unchanged at 6,073<\/p>\n

E-mini Nasdaq-100 futures are up 0.17% at 21,842.75<\/p>\n

E-mini Dow Jones Industrial Average Index futures are unchanged at 44,480\n<\/p>\n

Bitcoin Stats:<\/h2>\n

BTC Dominance: 60.91 (-0.14%)<\/p>\n

Ethereum to bitcoin ratio: 0.02784 (-0.50)<\/p>\n

Hashrate (seven-day moving average): 802 EH\/s<\/p>\n

Hashprice (spot): $53.2<\/p>\n

Total Fees: 4.63 BTC \/ $446,657<\/p>\n

CME Futures Open Interest: 166,680 BTC<\/p>\n

BTC priced in gold: 33.1 oz<\/p>\n

BTC vs gold market cap: 9.40 oz<\/p>\n

Technical Analysis<\/h2>\n

\"\"<\/p>\n

Since the Jan. 3 crash, bitcoin has remained below the widely-tracked 50-day simple moving average (SMA). <\/p>\n

It now appears the price has also dipped below the Ichimoku cloud, suggesting a potential bearish momentum shift. <\/p>\n

This twin breakdown could embolden bears. Immediate support is seen at around $90,000. <\/p>\n

Crypto Equities<\/h2>\n

MicroStrategy (MSTR): closed on Wednesday at $326.82 (+2.3%), down 0.56% at $325 in pre-market.<\/p>\n

Coinbase Global (COIN): closed at $274.90 (+3%), up 3.24% at $283.8 in pre-market.<\/p>\n

Galaxy Digital Holdings (GLXY): closed at C$26.87 (+1.24%)<\/p>\n

MARA Holdings (MARA): closed at $16.24 (+1.37%), down 0.55% at $16.16 in pre-market.<\/p>\n

Riot Platforms (RIOT): closed at $11.16 (+0.18%), down 0.54% at $11.10 in pre-market.<\/p>\n

Core Scientific (CORZ): closed at $12.09 (-1.39%), unchanged in pre-market.<\/p>\n

CleanSpark (CLSK): closed at $10.52 (+2.33%), down 0.67% at $10.45 in pre-market.<\/p>\n

CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $22.73 (+1.75%), unchanged in pre-market.<\/p>\n

Semler Scientific (SMLR): closed at $47.69 (+1.51%), unchanged in pre-market.<\/p>\n

Exodus Movement (EXOD): closed at $48.85 (-0.63%), up 2.48% at $50.06 in pre-market.<\/p>\n

ETF Flows<\/h2>\n

Spot BTC ETFs:<\/p>\n

Daily net flow: -$251 million<\/p>\n

Cumulative net flows: $40.21 billion<\/p>\n

Total BTC holdings ~ 1.174 million.<\/p>\n

Spot ETH ETFs<\/p>\n

Daily net flow: -$40.9 million<\/p>\n

Cumulative net flows: $3.13 billion<\/p>\n

Total ETH holdings ~ 3.788 million.<\/p>\n

Source: Farside Investors<\/a><\/p>\n

Overnight Flows<\/h2>\n

\"\"<\/p>\n

Chart of the Day<\/h2>\n

\"\"<\/p>\n

Daily trading volumes in decentralized exchanges based on PancakeSwap have surged to the highest since early December. <\/p>\n

The renewed activity partly explains CAKE token’s jump to a two-month high of $3.4. <\/p>\n

While You Were Sleeping<\/h2>\n

Bitcoin Miner Riot Adds New Board Member to Push AI Pivot<\/a> (CoinDesk): Bitcoin miner Riot Platforms added three new directors as it explores repurposing its mining infrastructure for AI workloads.<\/p>\n

Bitcoin HODLer Metaplanet to Join MSCI Japan Index, Raises $26M to Buy More BTC<\/a> (CoinDesk): The bitcoin buyer will be joining the MSCI Japan Index, which tracks the performance of large and mid cap Japanese stocks, on Feb. 28.<\/p>\n

Coinbase Eyes Re-Entry to India<\/a> (TechCrunch): The crypto exchange is reportedly working with Indian regulators to return to the crypto market it left in 2022 nearly six months after Binance resumed operations there.<\/p>\n

Fed\u2019s Waller Says Scale of Stablecoins Rests on Harmonized Rules<\/a> (Bloomberg): Fed Governor Christopher Waller said stablecoins could strengthen the dollar globally, but need a U.S. regulatory framework that deals with their risks.<\/p>\n

Ray Dalio to the Trump Administration: Cut Debt Now or Face an \u2018Economic Heart Attack\u2019<\/a> (CNBC): Citing the massive $36 trillion U.S. debt, Bridgewater’s Ray Dalio warns of a potential economic crisis unless the Trump administration urgently cuts the deficit to 3% of GDP from 7.5%.<\/p>\n

In the Ether<\/h2>\n

\"\"\"\"\"\"\"\"\"\"\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

By James Van Straten (All times ET unless indicated otherwise) After Wednesday\u2019s unexpectedly high consumer price inflation (CPI) figures, all eyes now turn to the produce price report due at 8:30 a.m. Analysts expect year-over-year PPI to come in at 3.2%, below December\u2019s 3.3%, with a month-on-month reading of 0.3%, up from 0.2%. Core PPI, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12876","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12876"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12876\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}