Bitcoin (BTC), Ethereum (ETH) and altcoins have experienced some pullbacks after the recent rise.
While investors were wondering whether the rise would continue, data on the US Producer Price Index (PPI) was released today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced -0.4% – Expected 0.3% – Previous -0.1%
Core Producer Price Index (YoY): Announced 3.1% – Expected 3.1% – Previous 3.3%
Producer Price Index (Monthly): Announced -0.5% – Expected 0.2% – Previous -0.4%
Producer Price Index (Annual): Announced 2.4% – Expected 2.5% – Previous 2.7%
In addition to the PPI data, Unemployment Benefit Applications were also announced.
Announced 229k – Expected 229k – Previous 228k
Bitcoin's first reaction after the incoming PPI data was as follows:
After the data came in lower than expected, Bitcoin rose to $ 102,700, according to Binance TR data.
*This is not investment advice.
