bitcoin
Bitcoin (BTC) $ 23,315.25
ethereum
Ethereum (ETH) $ 1,651.59
tether
Tether (USDT) $ 0.999404
bnb
BNB (BNB) $ 328.72
usd-coin
USD Coin (USDC) $ 0.999508
xrp
XRP (XRP) $ 0.409102
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.093383
cardano
Cardano (ADA) $ 0.39954
solana
Solana (SOL) $ 24.45
matic-network
Polygon (MATIC) $ 1.22
polkadot
Polkadot (DOT) $ 6.86
tron
TRON (TRX) $ 0.063353
bitcoin
Bitcoin (BTC) $ 23,315.25
ethereum
Ethereum (ETH) $ 1,651.59
tether
Tether (USDT) $ 0.999404
bnb
BNB (BNB) $ 328.72
usd-coin
USD Coin (USDC) $ 0.999508
xrp
XRP (XRP) $ 0.409102
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.093383
cardano
Cardano (ADA) $ 0.39954
solana
Solana (SOL) $ 24.45
matic-network
Polygon (MATIC) $ 1.22
polkadot
Polkadot (DOT) $ 6.86
tron
TRON (TRX) $ 0.063353
Saturday, February 4, 2023
HomeCoinsBitcoinBitcoin sinks 4% to $20,400 as US producer costs present inflation easing

Bitcoin sinks 4% to $20,400 as US producer costs present inflation easing

Bitcoin fell 4%, bottoming at $20,400 following information of the U.S. Producer Worth Index (PPI) coming in higher than anticipated.

December 2022’s PPI got here in at 6.2% year-over-year (YoY,) lower than the anticipated 6.8% fee. The information signaled an easing of inflationary strain, giving scope for the Fed to sluggish its present tempo of rate of interest hikes.

The PPI measures adjustments within the costs paid by producers and is commonly taken as an indicator of upcoming shopper worth information.

Bitcoin tanks

On the discharge of PPI information, Bitcoin initially moved greater, reaching $21,650 by 14:15 UTC.

Nonetheless, an hour later, the main cryptocurrency suffered a pointy sell-off that discovered assist at $20,400. A powerful bounce adopted, topping out at $21,140.

Bitcoin 15 minute chart
Supply: BTCUSDT on TradingView.com

Learn Our Newest Market Report

BitcoinMasterNews

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Explore More

Related Articles