Bitcoin

Bitcoin price soars above 30K amid weak inflation concerns in China

04/11/2023
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Quick Take

  • Bitcoin reclaimed $30,000 during Asia trading hours.
  • Reports showed that China’s CPI and PPI inflation came in lower than expected.
  • China CPI YOY actual 0.7% vs. forecast of 1.1%.
  • China PPI YOY actual -2.5% vs. forecast -2.5%.
  • Markets may expect the People’s Bank of China to start a new round of stimulus due to weak inflation.
  • Bitcoin surged over $30,000 and, as a result, has seen over $175 million of liquidations in the past 24 hours.
  • Bitcoin is now up 7.4% in the past five days.
China Inflation: (Source: Bloomberg)
China Inflation: (Source: Bloomberg)
BTCUSD: (Source: TradingView)
BTCUSD: (Source: TradingView)

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