5 AM After-Hours Flash: Bitcoin edges above $77,000, but institutional activity suggests downside hedging | Inflation Rate MoM — Actual: 2.5 | I
Bitcoin just tagged seventy seven thousand dollars but big money is quietly loading up on downside protection.
Inflation numbers are flashing hotter than expected. The latest inflation rate month-over-month came in at two point five percent, more than double the previous one point two. Year-over-year inflation jumped to ten point nine percent from seven point three. Wholesale prices are also surging, up thirteen point six percent year-over-year versus six point seven last time. M two money supply year-over-year eased slightly to eleven percent from eleven point four.
An update on that inflation rate month-over-month: the reading has now been revised higher from two point three eight percent.
These prints are pouring cold water on any near-term rate cut hopes and could keep the VIX on edge heading into tomorrow’s SPX open.
Russell's Morning Outlook is coming up soon. I am your VixShield news reporter.