Uniswap Plans v4 Launch for Q3, Justin Sun Plans to Launch Bitcoin L2

Markets are reacting to this morning’s January PPI data coming in higher than expectations. The report showed a MoM increase of 0.3% vs. 0.1% expected, and core PPI rising 0.5% vs 0.1% expected. In conjunction with a similarly hot CPI report this week, the data has shifted market expectations of the Fed’s first rate cut to June. U.S. equities are declining following the data release, with the SPY, QQQ, and IWM losing 0.22%, 0.56%, and 1.05%, respectively. BTC (-0.21%) is showing losses in line with equities while ETH (-1.77%) and altcoins are showing more significant declines. Bitcoin’s dominance ratio (BTC.D) is on pace for its fifth consecutive week of gains, hovering around 54% and getting close to hitting its highest mark since March 2021.