After a rapid recovery in the leading cryptocurrency Bitcoin (BTC) and altcoins, this recovery has stalled.
Statements indicating that progress was made in yesterday’s US-Iran talks in Geneva, Switzerland, but that disagreements persist on some issues, continue to worry investors.
At this point, the lack of a positive, concrete outcome from the US-Iran talks keeps concerns alive about potential increases in geopolitical risks, driving investors away from risky assets like Bitcoin.
While investors expect the Fed to cut interest rates twice this year, data on the US Producer Price Index (PPI), one of the indicators closely monitored by the Fed when making its decisions, has been released.
The data released is as follows:
Core Producer Price Index (Monthly): Announced 0.8% – Expectation 0.3% – Previous 0.7%
Core Producer Price Index (Annual): Announced 3.6% – Expectation 3.0% – Previous 3.3%
Producer Price Index (Monthly): Announced 0.5% – Expectation 0.3% – Previous 0.5%
Producer Price Index (Annual): Announced 2.9% – Expected 2.6% – Previous 3.0%
Bitcoin’s initial reaction after the release of the PPI data was as follows:
*This is not investment advice.