Bitcoin sees minor sell-off in response to worse-than-expected PPI data 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.
1 min read
Updated: Dec. 9, 2022 at 2:03 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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.
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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