BREAKING! US PPI Data Announced! What Was Bitcoin's (BTC) First Reaction?!

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Bitcoinsistemi2024/10/11 14:45

By:Elif Azra Güven

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:

BREAKING! US PPI Data Announced! What Was Bitcoin's (BTC) First Reaction?! image 0

*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.

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