Cooler US PPI Catches a $52 Million Bitcoin Bear Off Guard

Source Beincrypto

US PPI data showed producer prices rising less than expected in October, and Bitcoin (BTC) jumped within minutes. The move caught bearish traders off guard, wiping out about $39 million in short bets within an hour, CoinGlass data shows. One trader who bet $52 million on a drop now sits under 2% from a forced exit.

The reversal followed a brutal day for bulls. Over 24 hours, $1.42 billion in crypto positions were liquidated, and 83.4% of that hit traders betting on gains, according to CoinGlass.

How did US PPI flip the market against bears?

The Producer Price Index (PPI) tracks what businesses pay for goods and services. As a result, it often hints at what shoppers pay later.

Prices rose 6.5% over the year, below the 6.6% forecast, the Labor Department said. The monthly gain was 0.3%, under the expected 0.4%.

Inflation still did not cool. The annual rate rose from 6.3% in September, and a core measure climbed 0.5% for the month.

Bitcoin, which had dipped below $67,600 earlier in the day, jumped from about $69,246 to nearly $70,000 within five minutes of the release. It briefly topped $70,200 on Binance before easing to about $69,870.

Short sellers, who profit when prices fall, took the hit. They accounted for $39.06 million of the $41.14 million liquidated in the hour, CoinGlass data shows.

Can the $52 Million Bitcoin Short Survive?

Tracking site Hyperbot shows a trader on crypto exchange Hyperliquid opened a 750 BTC short 50 minutes before the data. The entry averaged $69,008.

The trader posted about $1.94 million of their own funds. Borrowed money, at up to 40 times leverage, covers the rest.

Hyperbot puts the liquidation price, where the exchange forcibly closes the bet, near $70,986. At its peak, Bitcoin came within about 1.1% of that level, and the gap later widened to roughly 1.6%.

The position was already down about $208,000 before the release. There is no public evidence the trader saw the numbers early.

If the bet fails, closing it means buying back 750 BTC into a rising market. In March 2025, a $423 million, 40x Bitcoin short on the same exchange sparked a public liquidation hunt, BeInCrypto reported.

The bigger test comes at the Fed’s December 8–9 meeting. Governor Christopher Waller has tied a possible half-point hike to core consumer prices running at 0.3% or more. October’s core reading hit exactly that, according to ING.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Fed Holds Rates but Quietly Rewrites One Line. Bitcoin and Gold ReactThe Federal Reserve (Fed) kept interest rates on hold at 3.75% to 4% on Wednesday. But two of its 12 voters wanted a hike, and they said so on the record.That split matters for anyone with a mortgage,
Author  Beincrypto
Oct 29, Thu
The Federal Reserve (Fed) kept interest rates on hold at 3.75% to 4% on Wednesday. But two of its 12 voters wanted a hike, and they said so on the record.That split matters for anyone with a mortgage,
placeholder
Binance Hack: $2 Billion Drained, Circle and Tether Freeze, Crypto Markets ReactBinance has confirmed a major security incident, with more than $2 billion drained across wallets. Circle and Tether have reacted quickly to freeze the majority of the funds.The concern centers on an
Author  Beincrypto
Oct 30, Fri
Binance has confirmed a major security incident, with more than $2 billion drained across wallets. Circle and Tether have reacted quickly to freeze the majority of the funds.The concern centers on an
placeholder
Musk and a Wall Street Billionaire Eye a Market Bitwise Says 99.9% of Americans Don't KnowElon Musk, billionaire investor Stan Druckenmiller and Bitwise Chief Investment Officer Matt Hougan all reacted on Thursday to the same deal. Intercontinental Exchange (ICE), owner of the New York Sto
Author  Beincrypto
Oct 30, Fri
Elon Musk, billionaire investor Stan Druckenmiller and Bitwise Chief Investment Officer Matt Hougan all reacted on Thursday to the same deal. Intercontinental Exchange (ICE), owner of the New York Sto
placeholder
Tesla and SpaceX Stocks Fall as Investors Worry About Elon Musk’s Political RiskWhile the US stock market surged on Wednesday, SpaceX and Tesla stocks were sliding. Democrats won both chambers of Congress and the Texas governor’s race, defeats that land squarely on Elon Musk’s co
Author  Beincrypto
Nov 05, Thu
While the US stock market surged on Wednesday, SpaceX and Tesla stocks were sliding. Democrats won both chambers of Congress and the Texas governor’s race, defeats that land squarely on Elon Musk’s co
placeholder
Nvidia Enters Bear Market As Google Strikes Amid Jensen Huang's China Spy WoesNvidia, the engine of the AI boom, is in a bear market. Shares sank to about $177 on Monday, 26% below their October record, as a China spy scandal reached its CEO.A bear market means a fall of 20% or
Author  Beincrypto
Nov 10, Tue
Nvidia, the engine of the AI boom, is in a bear market. Shares sank to about $177 on Monday, 26% below their October record, as a China spy scandal reached its CEO.A bear market means a fall of 20% or
goTop
quote