Bitcoin bounced off a widely watched Fibonacci retracement near $69,062 on Friday, November 13, as US producer-price inflation for October came in below forecasts — though the annual rate of producer inflation climbed to its highest level since November 2022.

The US Bureau of Labor Statistics reported a 0.3% monthly rise in final-demand producer prices for October, a tenth of a percentage point under the 0.4% consensus compiled by Dow Jones. The first four-hour candle after the release traded up close to 0.9% from its open, lifting Bitcoin from the intraday low back toward the $70,000 mark.

The Wick Went Under $69,000. The Close Did Not.

On the Binance four-hour chart, Friday's selloff ran straight through the 0.5 retracement around $72,569 and stalled at the 0.618 level near $69,062. Price spiked below $69,000 within the candle but closed back above the line. At the time of writing, Bitcoin traded around $69,900, with the current candle ranging between $69,068 and $70,214.

Fibonacci retracements are horizontal levels plotted at fixed fractions of a prior swing — here, the rally from the $57,709 low to the $87,429 high — and the 0.382, 0.5 and 0.618 ratios are the most closely watched marks on that ladder.

A wick through a level and a close back above it is the chart's version of buyers stepping in at a predefined price. Two details temper the signal. The breakdown candles carried the heaviest volume since the November 5 drop, while the four-hour bounce candle has so far printed on lighter volume of 2.13K BTC against the red bars beside it. A single four-hour close above a level is a defence, not a reclaim; the pattern earns more weight if the next few candles keep their lows above $69,062.

Momentum is the cleaner part of the picture. The 14-period relative strength index, a momentum oscillator scored from 0 to 100, fell to 29.96, below the 30 line that marks oversold on this timeframe, with its signal average at 32.33. A first bounce from a reading that low is common; the indicator gives no guide to its size.

Minute by Minute Into the Release

The 15-minute chart shows the order of events. Bitcoin printed its low shortly after 05:00 UTC on the heaviest selling of the night, worked back above $69,000 by around 11:00 UTC and spent the next two and a half hours in a tight band between roughly $69,100 and $69,400, with volume thinning candle by candle. The level had held on its own merits for more than two hours before the data arrived; the PPI did not rescue the 0.618.

Bitcoin trades around the clock, but the US data calendar does not: scheduled releases such as the PPI land at 8:30 a.m. Eastern — 13:30 UTC in November — which is why the entire reaction to the print can be read in a handful of candles.

When the 13:30 UTC candle opened on the data, price jumped to about $70,200 on the largest single volume bar of the session — larger than the capitulation bar at the morning low — then gave back the top of the move and settled near $69,800 within the same fifteen minutes. The 15-minute RSI jumped from the mid-50s to about 64 on that bar, its highest reading of the day. The print added fuel to a bounce already underway, and the speed with which $70,000 was sold marks the round number as the nearest overhead reference.

PPI: Softer Than Feared, Not Soft

Source: US Bureau of Labor Statistics, October 2026 Producer Price Index, released November 13. Consensus figures as compiled by Dow Jones and reported by CNBC.

The Producer Price Index tracks the prices domestic producers receive for their output — a wholesale-stage read on inflation that tends to reach consumers with a lag, unlike the CPI, which measures the prices households pay directly.

The relief in this report is all in the monthly column. After September's 1.4% jump, a 0.3% October reading is a sharp deceleration, and it landed a tenth below what economists had pencilled in. Everything else points the other way. The annual rate climbed again and now sits at its highest since November 2022. The core measure that strips out food, energy and trade services ran at 0.5% for a second month. Goods inflation over twelve months is in double digits, and the services increase was driven by a 3.9% jump in freight trucking — the kind of cost that passes through to consumer prices with a lag.

Why a Softer Producer-Price Number Helps Bitcoin

Bitcoin pays no yield, so it competes with cash and Treasuries on expected returns. When markets price in a larger or longer run of rate increases, the dollar strengthens and the opportunity cost of holding a non-yielding asset rises. That combination was behind Friday morning's drop below $70,000, when the dollar rallied on expectations of a December rate hike. CNBC reports that futures fully price a quarter-point increase at the December 8-9 Fed meeting, with a small probability of a half-point move.

A PPI reading that comes in under forecast could nudge that pricing the other way: it might lower the odds of the larger move, which can ease pressure on the dollar and on short-term yields, and risk assets might get a reflexive bid. That is the possible channel at work in the 13:30 UTC candle.

It is also the limit of the good news. October's CPI had already come in hotter than forecast on Tuesday, so Friday's number was the first inflation print of the week that did not add to the case for a bigger hike — and that is all it was. It did nothing to remove the quarter-point move markets expect, and its annual figures argue for further tightening, not less. The tailwind is a smaller hike, not an easier Fed.

What Sits Between Here and the Moving Averages

The bounce has a lot of chart above it. All three simple moving averages on the four-hour timeframe sit overhead and are sloping down, and the ascending trendline that connected the July low to the August and September pullbacks broke during the November 5 leg, so it no longer offers support from below. The daily picture is covered in Coindoo's note on the 200-day average moving overhead.

Reading the ladder top-down, the first real test is the 0.5 retracement, which was support on the way down and is the first place where holders trapped above it could exit at break-even. The 50-period average and the 0.382 level sit close together above that, forming the band where the November 7-12 consolidation played out. Nothing in the structure changes character until price is back above the 200-period average; below it, a rally is a bounce inside a downtrend by definition.

Macro Dates on the Calendar

The PPI was the last inflation print before a run of releases that feed directly into the December Fed decision. Each lands on a market already leaning toward a hike, so the asymmetry runs one way: an in-line number changes little, while a hot one reopens the half-point debate.

Three of those carry more weight for Bitcoin than the others. The minutes from the October 28 meeting, which the Fed releases three weeks after the gathering, will show how many officials argued for a larger move and why. PCE inflation on November 25 is the measure the Fed targets, and economists build their estimate of it from the CPI and PPI components; the freight and services figures in Friday's PPI feed that calculation. The December 9 meeting is the only one this quarter with a new set of projections, so the rate path for 2027 gets redrawn that afternoon.

Until then, the chart has given a clear reference. Holding $69,062 on a closing basis keeps the Fibonacci defence intact and leaves the 0.5 level as the test that matters. Losing it hands the initiative back to sellers, with the next reference more than 8% lower.

Data and Methodology Notes

Chart data: Binance BTC/USDT, four-hour timeframe, snapshot November 13, 2026, 13:43 UTC; 15-minute timeframe, snapshot 13:52 UTC. Fibonacci levels are measured from the $57,709 low to the $87,429 high. Moving averages are simple, at 50-, 100- and 200-periods on the four-hour chart. Percentage distances are calculated from approximately $69,900 and rounded to one decimal.

Disclaimer: This article is market analysis, not investment advice. The levels and scenarios described are ways of reading current chart and macro data, not forecasts, and no price move is predicted. Cryptocurrency markets are volatile and leveraged positions can be liquidated quickly. Conduct your own research and consult a licensed financial adviser before making any investment decision. Coindoo and the author accept no responsibility for losses arising from decisions based on this content.

This article is a standardized English rewrite of Coindoo's original report, Bitcoin Price Jumps Off Important Fib Level as US PPI Slows.