Although the inflation data announced yesterday was above expectations, the expectation of spot Bitcoin ETFs opening to trading did not negatively affect the BTC price.
BTC, which rose above $48,000 after spot ETFs opened for trading, then fell to $45,000. While BTC is currently at $45,900, important economic data is being followed in the crypto market this week.
At this point, data on the US Producer Price Index (PPI) was announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.0% – Expected 0.2% – Previous 0.0%
Core Producer Price Index (Annual): Announced 1.8% – Expected 1.9% – Previous 2.0%
Producer Price Index (Monthly): Announced -0.1% – Expected 0.1% – Previous 0.0%
Producer Price Index (Annual): Announced 1.0% – Expected 1.3% – Previous 0.9%
First Reaction of Bitcoin and DXY!
The first reaction of Bitcoin (BTC) and Dollar (DXY) after the incoming PPI data was as follows:
*This is not investment advice.