While the leading cryptocurrency Bitcoin rose above $84,000 yesterday after the CPI data came in below expectations, the BTC price fell back to $82,000.
While there is curiosity about whether Bitcoin will continue its rise, data on the US Producer Price Index (PPI) was announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced -0.1% – Expected 0.3% – Previous 0.3%
Core Producer Price Index (YoY): Announced 3.4% – Expected 3.6% – Previous 3.6%
Producer Price Index (Monthly): Announced 0.0% – Expected 0.3% – Previous 0.4%
Producer Price Index (Annual): Announced 3.2% – Expected 3.3% – Previous 3.5%
Unemployment Claims: Announced 220k – Expected 226k – Previous 221k
Bitcoin’s first reaction after the incoming PPI data was as follows:
*This is not investment advice.