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Bitcoin (BTC) retreated to $107,000 levels despite the inflation data announced yesterday that came in below expectations.
While investors are wondering which direction Bitcoin and cryptocurrencies will go, data on the US Producer Price Index (PPI) was announced today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.1% – Expected 0.3% – Previous -0.4%
Core Producer Price Index (YoY): Announced 3.0%– Expected 3.1%– Previous 3.1%
Producer Price Index (Monthly): Announced 0.1%– Expected 0.2% – Previous -0.5%
Producer Price Index (Annual): Announced 2.6% – Expected 2.6% – Previous 2.4%
In addition to the PPI data, Unemployment Benefit Applications were also announced.
Announced 248k – Expected 242k – Previous 247k
Bitcoin's first reaction after the incoming PPI data was as follows:
*This is not investment advice.