Bitcoin sees minor sell-off in response to worse-than-expected PPI data
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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
By Samuel Wan
Analyst CryptoSlate
1 min read
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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.

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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