Bitcoin and altcoins experienced a major decline following the CPI data announced yesterday, which exceeded expectations.
However, while BTC and the market recovered in a short time after the decline, data on the US Producer Price Index (PPI) was announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.3% – Expected 0.3% – Previous 0.0%
Core Producer Price Index (YoY): Announced 3.6% – Expected 3.3% – Previous 3.5%
Producer Price Index (Monthly): Announced 0.4% – Expected 0.3% – Previous 0.2%
Producer Price Index (Annual): Announced 3.5% – Expected 3.2% – Previous 3.3%
Unemployment Claims: Announced 216k – Expected 217k – Previous 219k
Bitcoin's first reaction after the incoming PPI data was as follows:
*This is not investment advice.