CPI data yesterday pushed Bitcoin above $59,000
Bitcoin surpassed the $59,000 mark yesterday after encouraging Consumer Price Index (CPI) data was released in the United States. The positive data was interpreted as a sign of economic recovery, boosting investor confidence in the leading cryptocurrency. However, the bullish momentum was short-lived as Bitcoin later fell back to around $57,000. This fluctuation highlights the asset's typical volatility, which continues to attract market participants.
Impact of recent Producer Price Index (PPI) data
Today, market attention turned to the Producer Price Index (PPI) data that was just released. The data is as follows:
Core Producer Price Index (monthly): 0.4% announced - 0.2% expected - 0.0% previous valueCore Producer Price Index (annual): 3.0% announced - 2.5% expected - 2.3% previous valueProducer Price Index (monthly): 0.2% announced - 0.1% expected - -0.2% previous valueProducer Price Index (annual): 2.6% announced - 2.3% expected - 2.2% previous value
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