BREAKING NEWS: US Producer Inflation Data Announced! Good or Bad for Bitcoin?

The cryptocurrency industry includes economic data from the USA.

The world's largest economy, the United States of America (USA), affects the price movements of dollar-indexed investment instruments. The USA, which is on the agenda of financial markets this week, attracts the attention of investors.

In the past minutes, US producer inflation (PPI) data, which is closely followed by the FED, was announced. Here are the latest important economic data from the USA:

US Annual Producer Price Index (PPI):

Previous: 2.1%

Expectation: 2.2%

Announced: 2.2%

US Monthly Producer Price Index (PPI):

Previous: 0.2%

Expectation: 0.3%

Announced: 0.5%

US Annual Core Producer Price Index (PPI):

Previous: 2.4%

Expectation: 1.4%

Announced: 2.4%

US Monthly Core Producer Price Index (PPI):

Previous: 0.2%

Expectation: 0.2%

Announced: 0.5%

While annual PPI data were announced in line with expectations, it was observed that monthly data came above expectations. Monthly data exceeding expectations triggered a small decline in the leading cryptocurrency Bitcoin (BTC).

BTC, which dropped from 62 thousand dollars to 61,100 dollars in the Binance futures market, started to recover gradually as the minutes progressed.