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.
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Source: https://en.bitcoinsistemi.com/breaking-us-ppi-data-announced-what-was-bitcoins-btc-first-reaction/