📈 Bitcoin (BTC) is playing tag with $58,000, as US inflation data sticks around like an unwanted houseguest. The Producer Price Index (PPI) for June rose more than forecast, pushing BTC price strength up a notch. Despite the PPI release, BTC/USD dodged a downturn, modestly gaining in line with US stocks while the dollar strength took a tumble. Trader Skew noted that the market is bracing for a harsh reality check when demand continues to buckle. Meanwhile, the US dollar index (DXY) is headed towards its lowest levels in over a month. Bitcoin, it seems, is not just surviving, but thriving amidst the chaos. Let's see if it can keep up the good work! 🚀