Bitcoin exhibited notable price changes following the release of new U.S. Producer Price Index (PPI) data. This update has affected the cryptocurrency market, drawing the attention of investors.
Current Bitcoin Dynamics
Yesterday, Bitcoin's price rose above $84,000 after the Consumer Price Index (CPI) data came in below expectations, but soon returned to $82,000.
Key PPI Data
Today, new U.S. Producer Price Index (PPI) data was released:
- Core PPI (Monthly): Announced -0.1%, Expected 0.3%, Previous 0.3% - Core PPI (YoY): Announced 3.4%, Expected 3.6%, Previous 3.6% - PPI (Monthly): Announced 0.0%, Expected 0.3%, Previous 0.4% - PPI (Annual): Announced 3.2%, Expected 3.3%, Previous 3.5% - Unemployment Claims: Announced 220k, Expected 226k, Previous 221k.
Bitcoin's Reaction to PPI Data
Bitcoin reacted to the PPI data release with a price change, indicating its sensitivity to economic data.
The new PPI data influenced the cryptocurrency market, highlighting the importance of monitoring economic indicators for forecasting Bitcoin's dynamics.
