Important economic data is closely monitored by the cryptocurrency market, particularly Bitcoin, which recently experienced a drop to $27,000 amid escalating tensions between Israel and Hamas. Today, the announcement of the Producer Price Index (PPI) data has stirred interest among market participants. The data indicates the following:
- Annual Producer Price Index (PPI): Announced at 2.2%, exceeding expectations (Expected: 1.6%, Previous: 1.6%).
- Monthly Producer Price Index (PPI): Announced at 0.5%, surpassing expectations (Expected: 0.3%, Previous: 0.7%).
- Annual Core Producer Price Index (PPI): Announced at 2.7%, beating expectations (Expected: 2.3%, Previous: 2.2%).
- Monthly Core Producer Price Index (PPI): Announced at 0.3%, exceeding expectations (Expected: 0.2%, Previous: 0.2%).
The initial reactions of both Bitcoin (BTC) and the U.S. Dollar (DXY) to this economic data have been observed, although it’s important to note that this information is not intended as investment advice.