Inflation data announced during the week came above expectations Bitcoin Although its price dropped to $69,000 for a short time, it recovered quickly.
Falling after CPI data BTCreaching a new ATH of over $73,000.
While BTC is currently at $72,700, important economic data is being followed in the crypto market this week.
At this point today US Producer Price Index (PPI) Related data was also announced.
The data disclosed is as follows:
Core Producer Price Index (Monthly): Announced 0.3% – Expected 0.2% – Previous 0.5%
Core Producer Price Index (Annual): Announced 2.0% – Expected 1.9% – Previous 2.0%
Producer Price Index (Monthly): Announced 0.6% – Expected 0.3% – Previous 0.3%
Producer Price Index (Annual): Announced 1.6% – Expected 1.1% – Previous 0.9%
Apart from US PPI data, Unemployment Benefit Applications were also announced:
Applications for Unemployment Rights: Announced 209K- Expected 218K – Previous: 217K
The first reaction of Bitcoin (BTC) and Dollar (DXY) after the incoming PPI data was as follows:
*This is not investment advice.
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