Leading cryptocurrency Bitcoin rose above $59,000 yesterday following positive CPI data from the USA. However, it later fell back to $ 57,000.
While BTC has exhibited very 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 0.4% – Expected 0.2% – Previous 0.0%
Core Producer Price Index (Annual): Announced 3.0% – Expected 2.5% – Previous 2.3%
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Producer Price Index (Monthly): Announced 0.2% – Expected 0.1% – Previous -0.2%
Producer Price Index (Annual): Announced 2.6% – Expected 2.3% – Previous 2.2%
Bitcoin’s first reaction after the incoming PPI data was as follows:
*This is not investment advice.