Leading cryptocurrency Bitcoin (BTC) dropped to $58,900 yesterday following the CPI data from the United States, but has since recovered and climbed back above $60,000. While BTC has been quite volatile in recent days, data on the US Producer Price Index (PPI) was also released today.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Released 0.2% â Expected 0.2% â Previous 0.3%
Core Producer Price Index (YoY): Released 2.8% â Expected 2.7% â Previous 2.4%
Producer Price Index (Monthly): Released 0.0% â Expected 0.1% â Previous 0.2%
Producer Price Index (Annual): Released 1.8% â Expected 1.6% â Previous 1.7%
Bitcoin's initial reaction after the PPI data was released was as follows:
