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

Bitcoin
By Press
0

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.

Source: BTCUSDT on TradingView.com

The post Bitcoin sees minor sell-off in response to worse-than-expected PPI data appeared first on CryptoSlate.

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