JELLY (JELLY) news

Bitcoin Dips 2% as Inflation Falls but Trade War Fears Rise

Bitcoin's price dropped by 2% despite lower-than-expected U.S. inflation data, as fears of an intensified trade war dampened investor confidence. The Producer Price Index (PPI) for February mirrored the previous day's Consumer Price Index (CPI) decline, signaling cooling inflation. However, instead of boosting risk assets like Bitcoin and stocks, the market remained sluggish. Analysts suggest that slowing inflation may push U.S. policymakers to strengthen trade war measures, creating uncertainty. Meanwhile, expectations for an imminent Federal Reserve rate cut remain low, with only a 1% chance of a cut in March and 28% in May. Bitcoin continues to face resistance at its 200-day simple moving average, preventing a price breakout. Analysts note that without major catalysts, Bitcoin’s price may remain within its current range, with significant resistance around the $85,000 level. Traders anticipate continued volatility as markets react to economic policies and geopolitical developments. Source: Cointelegraph Futures Market Updates Over the past 24 hours, BTC futures saw a slight decline in open interest (-0.55%), while ETH futures experienced a modest increase (+0.98%). Both assets had a significant drop in trading volume, with ETH (-28.20%) declining more sharply than BTC (-16.64%). BTC had higher total liquidations, especially on the long side ($53.31M vs. ETH’s $23.04M), suggesting more aggressive long positioning was wiped out. The long/short ratio for BTC (49.72%/50.28%) indicates a slight short bias, whereas ETH (50.28%/49.72%) leaned marginally long. Funding rates remain positive for both, with ETH (0.0042%) slightly higher than BTC (0.0038%). BTC Futures Updates Total BTC Open Interest: $47.32B (-0.55%) BTC Volume (24H): $76.44B (-16.64%) BTC Liquidations (24H): $53.31M (Long)/$22.48M (Short) Long/Short Ratio: 49.72%/50.28% Funding Rate: 0.0038% ETH Futures Updates Total ETH Open Interest: $17.82B (+0.98%) ETH Volume (24H): $34.06B (-28.20%) ETH Liquidations (24H): $23.04M (Long)/$12.97M (Short) Long/Short Ratio: 50.28%/49.72% Funding Rate: 0.0042% Top 3 OI Surges MDT: $1.73M (+307.09%) JELLY: $1.77M (+200.49%) LAI: $6.70M (+193.54%)