Are you keeping up with the latest news and trends in the stock market and trading world? At Extreme Investor Network, we strive to provide unique and valuable information that sets us apart from other sources.
Over the weekend, economic data from China revealed a further weakening in demand, which had a negative impact on market risk sentiment. Producer prices in China declined by 2.8% year-on-year in September, following a 1.8% drop in August. This decrease in prices is often a sign of weakening demand, as producers reduce prices to stimulate consumer spending.
Investors were eagerly anticipating fiscal stimulus measures from Beijing to counteract the economic slowdown. However, China’s Ministry of Finance did not announce any new stimulus measures targeted at boosting consumer consumption, causing concerns about the global economy and the demand for riskier assets like BTC.
On the other hand, US economic indicators continued to support expectations of a soft landing for the US economy, which may have helped mitigate some of BTC’s losses in the face of global economic uncertainty.
One potential bright spot in the market was the US BTC-spot ETF market, which saw net inflows of $253.6 million on Friday, October 11, with total net inflows of $348.5 million for the week. These inflows reflect investor optimism towards the Federal Reserve’s rate path and the overall economy.
However, there is still some concern about oversupply risk in the market, particularly after a recent US appellate court ruling allowed the US government to sell 69,000 BTC associated with the Silk Road. With a total stockpile of 203,239 BTC, plans to sell a significant portion of this supply could disrupt the supply-demand balance, especially if US BTC-spot ETFs are unable to absorb the excess supply.
Stay tuned to Extreme Investor Network for more in-depth analysis and insights into the stock market, trading, and Wall Street trends that can help you make informed investment decisions.