Leading cryptocurrency Bitcoin rose above $69,000 yesterday following positive CPI data from the USA. However, after the FED interest rate decision announced in the evening and the statements of FED Chairman Jerome Powell, it fell back to the level of 67,000 dollars.
While BTC exhibited very volatile movements within a day, data on the US Producer Price Index (PPI) was also announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.0% – Expected 0.3% – Previous 0.5%
Core Producer Price Index (Annual): Announced 2.3% – Expected 2.4% – Previous 2.4%
Producer Price Index (Monthly): Announced -0.2% – Expected 0.1% – Previous 0.5%
Producer Price Index (Annual): Announced 2.2% – Expected 2.5% – Previous 2.2%
Apart from PPI data, Unemployment Benefit Applications were also announced.
Applications for Unemployment Rights: Announced 242k – Expected 225k – Previous 229k
The first reaction of Bitcoin (BTC) and Dollar (DXY) after the incoming PPI data was as follows:
*This is not investment advice.