Bitcoin (BTC USD) jumped to $70,214 on Friday, November 13, minutes after U.S. producer prices for October came in softer than expected. The move did not last. By 15:00 UTC, Bitcoin had slipped back to $68,838, below where it stood before the data.<\/p>\n
The Producer Price Index (PPI), which tracks what businesses get paid for their goods and services, rose 0.3% in October. Economists had expected 0.4%. Core prices, which leave out food and energy, rose 0.3%, in line with forecasts.<\/p>\n
BULLISH: Bitcoin and gold SURGED after cooler-than-expected PPI release.$BTC<\/a> jumps 1.35% breaking $70,000 The SOFTER reading could ease pressure for a larger 50 bps December Fed hike. pic.twitter.com\/GDlGpmQPol<\/a><\/p>\n \u2014 Coin Bureau (@coinbureau) November 13, 2026<\/a><\/p>\n\n Bitcoin climbed 1.4% in five minutes on the headline, and trading volume on Binance hit about 15 times its pace from the hour before.<\/p>\n The squeeze cut both ways. We added up forced closures on OKX and found $5.5 million of short bets wiped out in the first 10 minutes. Then $5.4 million of long bets went the same way as the price faded.<\/p>\n So what does the PPI tell us about the Fed, and where does BTC USD go from here?<\/p>\n The report landed at 8:30 a.m. ET, or 13:30 UTC. Bitcoin was trading at $69,246 just before.<\/p>\n The spike:<\/strong> the first five-minute candle closed at $69,935, and the next one touched $70,214, the highest price since early Friday morning. DISCOVER: Top 20 Crypto to Buy in 2026<\/a><\/strong><\/p>\n We tracked forced closures, called liquidations, in Bitcoin, Ether, Solana and XRP futures on OKX, one of the largest crypto exchanges. A liquidation is a position force-closed by the exchange when a leveraged trader runs out of margin.<\/p>\n Before the data:<\/strong> just $30,000 was liquidated in the hour before 13:30 UTC. The pattern suggests traders bought the headline and sold the details. Core prices matched forecasts, and producer prices are still up 6.5% from a year ago, the fastest pace since November 2022. This was also the last inflation report before the Federal Reserve meets on December 9.<\/p>\n DISCOVER: BTC USD Holds $74,000 Through a Third Day of ETF Outflows: Is the Bottom In For Bitcoin?<\/a><\/strong><\/p>\n On the daily chart, where each candle covers one day, BTC USD trades at $68,874, down 3.6% in 24 hours. It sits well below both of its exponential moving averages (EMAs), averages that give recent prices more weight. The 200-day EMA is at $76,326 and the 50-day EMA higher at $78,231, so the trend is still pointing down.<\/p>\n Friday\u2019s daily candle opened at $71,460 and has dropped as low as $67,568. On this chart, the PPI spike to $70,214 is only a brief bounce inside that red candle.<\/p>\n Resistance:<\/strong> $70,214, Friday\u2019s PPI high, then $72,727, Tuesday\u2019s low, which now caps rebounds. BTCUSDT 1D chart. Source: TradingView<\/a><\/p>\n PATH Push higher<\/strong> Stall<\/strong> Slip<\/strong> The softer PPI gave BTC USD a quick lift, but sellers were waiting at $70,000. Until Bitcoin closes a day above that level, Friday\u2019s spike looks like a short squeeze inside a downtrend.<\/p>\n DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/strong><\/p>\n Follow 99Bitcoins on X<\/a> For the Latest Market Updates, and Subscribe on YouTube<\/a> For Daily Expert Market Analysis<\/p>\n The post Bitcoin Price Hits $70K on Soft PPI: Why Did the BTC USD Rally Collapse?<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC USD) jumped to $70,214 on Friday, November 13, minutes after U.S. producer prices for October came in softer than expected. The move did not last. By 15:00 UTC, Bitcoin had slipped back to $68,838, below where it stood before the data. The Producer Price Index (PPI), which tracks what businesses get paid for […]<\/p>\n","protected":false},"author":0,"featured_media":251309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251308"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251308"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251308\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/251309"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
GOLD increased 0.6% reaching over $3,900<\/p>\nBTC USD Jumped 1.4% in Five Minutes on the PPI Print: Shorts Burned First, Then Longs<\/h2>\n
\nThe volume:<\/strong> $52.3 million of BTC changed hands on Binance in those first five minutes, about 15 times the average of the hour before.
\nThe fade:<\/strong> by 14:00 UTC, Bitcoin was back below $69,500. By 15:00 UTC, it was at $68,838.<\/p>\n
\nThe first 10 minutes:<\/strong> $5.5 million of short bets, which profit when prices fall, were wiped out as Bitcoin jumped.
\nThe next 80 minutes:<\/strong> $5.4 million of long bets, which profit when prices rise, were wiped out as the gains faded.<\/p>\nBTC USD Price Analysis: $70,000 Is the Wall<\/h2>\n
\nSupport:<\/strong> $67,568, Friday\u2019s low and the lowest price since August. Below that, $64,166, the August double bottom.<\/p>\n
\nWHAT HAS TO HAPPEN
\nNEXT STOP<\/p>\n
\nA daily close above $70,214
\n$72,727, then the 200-day EMA at $76,326<\/p>\n
\nDaily closes between $67,568 and $70,214
\nChop into the weekend<\/p>\n
\nA daily close below $67,568
\n$64,166, the August low<\/p>\n<\/div>\n<\/div>\n