BREAKING! US PPI Data Announced! What Was Bitcoin's (BTC) First Reaction?!
US PPI data released.
The leading cryptocurrency Bitcoin (BTC) briefly fell to $58,900 yesterday following the CPI data from the US, but then recovered and rose above $60,000 again.
While BTC has been exhibiting quite volatile movements in recent days, data on the US Producer Price Index (PPI) was also announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.2% – Expected 0.2% – Previous 0.3%
Core Producer Price Index (YoY): Announced 2.8% – Expected 2.7% – Previous 2.4%
Producer Price Index (Monthly): Announced 0.0%– Expected 0.1% – Previous 0.2%
Producer Price Index (Annual): Announced 1.8%– Expected 1.6%– Previous 1.7%
Bitcoin's first reaction after the incoming PPI data was as follows:
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meme and AI token indices plummet 50% from December peaks while US and DeFi indices show resilience
The GMMEME and GMAI indices, for example, are down nearly 60% from their peaks in December.The following is an excerpt from The Block’s Data and Insights newsletter.
Could Litecoin Be the Next Big Runner? $1.5 Billion Volume Pushes LTC Up 12%
Litecoin ($LTC) has been propelled to the forefront of the altcoin market with rumours of an ETF approval.
Pepe Coin Crashes 65% but Traders Predict a Shocking 110% Rebound
Pepe (PEPE) shows signs of an upcoming trend reversal that could produce gains of over 100%
Why Is Stellar Dropping? XLM Turns Red as Market Shifts – What’s Next?
Stellar has been trading within a bullish flag pattern since the end of January, suggesting that it could stage a breakout very soon.
Trending news
MoreCrypto prices
More
