Although the inflation data announced during the week were above expectations, the Bitcoin price fell for a short time but recovered quickly.
BTC, which dropped to $ 48,000 after the CPI data, reached the limit of $ 53,000.
While BTC is currently at $51,912, important economic data is being followed in the crypto market this week.
At this point, data on the US Producer Price Index (PPI) was also announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.5% – Expected 0.1% – Previous 0.0%
Core Producer Price Index (Annual): Announced 2.0% – Expected 1.6% – Previous 1.8%
Producer Price Index (Monthly): Announced 0.3% – Expected 0.1% – Previous -0.1%
Producer Price Index (Annual): Announced 0.9% – Expected 0.6% – Previous 1.0%
The first reaction of Bitcoin (BTC) and Dollar (DXY) after the incoming PPI data was as follows:
*This is not investment advice.