The major cryptocurrency Bitcoin rose above $84,000 yesterday, while BTC prices returned to $82,000 after CPI data fell below expectations.
Although we are curious about whether Bitcoin will continue to grow, data on the US Producer Price Index (PPI) was released today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announcement – 0.1% – Expected 0.3% – Previous 0.3%
Core Producer Price Index (YOY): Announcement 3.4% – Expected 3.6% – Previous 3.6%
Producer Price Index (Monthly): Announcement 0.0% – Expected 0.3% – Previous 0.4%
Producer Price Index (Annual): Announcement 3.2% – Forecast 3.3% – Previous 3.5%
Unemployment claim: Announcement 220K – Predicted 226K – Previous 221K
The initial reaction of Bitcoin after the incoming PPI data was:
*This is not investment advice.
