US PPI MoM hits 0.7% – double the 0.3% forecast. Core YoY at 3.9% tops 3.7% expected, fueling inflation fears amid VIX 25 and Gulf oil shocks. BTC/SPX corr at -0.42 amplifies risk-off. Funding 0.0014% (83rd percentile) bleeds longs, $141M liqs cleared OI 3.4%. Bearish structure: $69.6k support breaks to $66k cascade. Short majors until prints cool or oil eases.
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