The U.S. PPI inflation has come in way above expectations, signaling that inflation may be on the rise. The BTC price quickly dropped below $66,000 on the back of the data release, as the Fed is likely to keep holding rates steady, with inflation still a growing concern.
Breaking: U.S. PPI Inflation Rises To 2.9%, BTC Price Falls
AI IMPORTANCE: 6/10
◆
AI INSIGHT
U.S. Bureau of Labor Statistics reports Producer Price Index rose 2.9% year-on-year for February, released today; Bitcoin (BTC) trades below $66,000 within minutes of the data release.
Loading BTC data...
MOBILE APP