WikiBit Weekly Crypto Market Outlook: Oil Breaks $100, CPI Looms — BTC’s Fight to Defend the Downside
This Week‘s Plot: BTC’s Three-Week Winning Streak Ends From September 7 to 11, BTC fell about 4% for the week and is now trading around $77,197, briefly dropping below $77,000. ETH has been relatively resilient, currently around $2,468, down roughly 2% for the week. There are three main culprits:PPI came in hotter than expected: U.S. August PPI rose 5.4% year over year, while energy prices jumped 4.2% month over month and diesel prices surged 24.1%. After the data was released, BTC plunged from above $79,000, while the 10-year U.S. Treasury yield approached 4.95%.The Middle East added fuel to the fire: The U.S.-Iran conflict escalated, pushing oil above $100, with Brent crude briefly approaching $109. Gold surged toward $5,000, but instead of flowing into BTC, safe-haven capital was scared away by renewed inflation expectations.Leveraged longs were liquidated: The entire crypto market saw approximately $452 million in liquidations over the past 24 hours, with long positions accounting for 76.76%.Bulls vs. Bears: On-Chain Data Warm, Macro Signals Cold The on-chain temperature is cooling. Glassnode data shows the 7-day seller risk ratio for BTC has fallen to around 7 basis points per day, less than half the August high of 16 bps. The share of profit-taking









