Bitcoin

China's easing factory-gate inflation suggests the oil shock from the Iran war is fading, which could reduce global cost pressures. For crypto, this is a second-order effect: lower global inflation might reduce the urgency for central banks to tighten, but the Fed's path is more critical. Crypto remains driven by liquidity and risk appetite, not China's PPI alone.

China's factory-gate inflation eased for the first time since the Iran war broke out in late February, and consumer prices also decelerated, indicating oil shock cost pressures are fading.