While the inflation data announced during the week exceeded expectations, the Bitcoin price fell to $69,000 for a short time, but recovered quickly.
BTC, which fell after the CPI data, reached the new ATH, exceeding $ 73,000.
While BTC is currently at $72,700, 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 0.3% – Expected 0.2% – Previous 0.5%
Core Producer Price Index (Annual): Announced 2.0% – Expected 1.9% – Previous 2.0%
Producer Price Index (Monthly): Announced 0.6% – Expected 0.3% – Previous 0.3%
Producer Price Index (Annual): Announced 1.6% – Expected 1.1% – Previous 0.9%
Apart from US PPI data, Unemployment Benefit Applications were also announced:
Applications for Unemployment Rights: Announced 209K – Expected 218K – Previous: 217K
The first reaction of Bitcoin (BTC) and Dollar (DXY) after the incoming PPI data was as follows:
*This is not investment advice.