#MarketTurbulence This week something surprising happened: $1 billion was liquidated in a matter of hours. And all because the U.S. Producer Price Index, PPI, rose a little more than expected. No, you haven't misheard. It wasn't an explosion at a mining farm, nor the banning of bitcoin in some state, nor even a tweet from Elon Musk. It was simply a number that came out in the report, and traders lost their minds.

Bitcoin even fell below $112,000, although not long ago we were told that it 'wouldn't go below a hundred thousand.' Sure, of course. We were also told that coffee prices wouldn't rise if wages at Starbucks were increased.

And so, while bitcoin tried to remember who it is - a future asset or simply a modern analog of gold, Ethereum ETFs received a sudden gift in the form of $729 million in inflows. Institutions say: 'Oh, panic? Great, we buy!'.

Why is this important? Because the cryptocurrency, once promoted as independent of the system, now reacts to macroeconomic news faster than the bond market. We live in a world where bitcoin fears inflation, and Ethereum rejoices when everyone is nervous.

And here is the main question:

Is this the end of the romance of cryptocurrencies or the beginning of a new game?