Monday, June 24, 2024

Bitcoin sees minor sell-off in response to worse-than-expected PPI information

by Jeremy

The Bureau of Labor Statistics has launched Producer Value Index (PPI) information for November exhibiting a month-over-month improve of 0.3%.

Expectations had been for a 0.2% improve, giving a worse-than-expected outcome and additional indicators inflation just isn’t beneath management.

PPI exhibits the typical change over time within the promoting costs acquired by home producers for his or her output.

Bitcoin’s preliminary response noticed a 1% draw back swing on the 13:30 15-minute candle, to backside at $17,060.

Bitcoin 15 minute chart
Supply: BTCUSDT on TradingView.com

The put up Bitcoin sees minor sell-off in response to worse-than-expected PPI information appeared first on CryptoSlate.



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