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

Bitcoin sees a minor spill on news that PPI inflation came in at 0.3% for November vs. 0.2% expected.

Samuel Wan
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Samuel Wan
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This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Bitcoin sees minor sell-off in response to worse-than-expected PPI data

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The Bureau of Labor Statistics has released Producer Price Index (PPI) data for November showing a month-over-month increase of 0.3%.

Expectations were for a 0.2% increase, giving a worse-than-expected result and further signs inflation is not under control.

PPI shows the average change over time in the selling prices received by domestic producers for their output.

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Bitcoin's initial response saw a 1% downside swing on the 13:30 15-minute candle, to bottom at $17,060.

Bitcoin 15 minute chart
Source: BTCUSDT on TradingView.com
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Samuel Wan
Samuel Wan
Analyst CryptoSlate

Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.

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