🚨 US PPI Comes in Below Expectations (6.5% vs. 6.6%) — Can Bitcoin Recover or Will the Fed Raise Rates in December? 🚨
The latest US PPI report brought some relief to crypto investors. However, inflation is still high, and the Federal Reserve may continue its tough approach.
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📊 PPI Slightly Below Expectations: October's PPI increased by 0.3% monthly, compared to the expected 0.4%. Annual wholesale inflation reached 6.5%, slightly below the 6.6% forecast. However, this is the highest level since November 2022.
🔥 Core Inflation Remains High: Core PPI, which excludes food and energy, increased by 0.3% monthly and remained at 5.0% yearly. This shows that inflation pressure is still strong.
🏦 Fed Rate Hike Chances Near 90%: After higher-than-expected October CPI and strong warnings from Fed officials, markets are expecting a possible 0.25% interest rate increase in December. The current probability is around 89.7%.₿ What Does This Mean for Bitcoin?
The slightly lower PPI number gave Bitcoin some breathing room. It also reduced some pressure on the US Dollar (DXY above 103).
Bitcoin recently fell below $70,000 and is trying to recover. However, a strong upward move may be difficult without positive market news or fresh ETF investments.
The next important events are the November 18 FOMC Minutes and upcoming ETF investment flows.
What do you think? Can BTC move above $70,000 this weekend, or will sellers push the price down again before the December Fed meeting? 👇
$BTC$ETH$SOL
#cryptouniverseofficial #bitcoin #PPI #FederalReserve #Fed #Ethereum #CryptoMarket
The latest US PPI report brought some relief to crypto investors. However, inflation is still high, and the Federal Reserve may continue its tough approach.
$ETH $BTC
📊 PPI Slightly Below Expectations: October's PPI increased by 0.3% monthly, compared to the expected 0.4%. Annual wholesale inflation reached 6.5%, slightly below the 6.6% forecast. However, this is the highest level since November 2022.
🔥 Core Inflation Remains High: Core PPI, which excludes food and energy, increased by 0.3% monthly and remained at 5.0% yearly. This shows that inflation pressure is still strong.
🏦 Fed Rate Hike Chances Near 90%: After higher-than-expected October CPI and strong warnings from Fed officials, markets are expecting a possible 0.25% interest rate increase in December. The current probability is around 89.7%.₿ What Does This Mean for Bitcoin?
The slightly lower PPI number gave Bitcoin some breathing room. It also reduced some pressure on the US Dollar (DXY above 103).
Bitcoin recently fell below $70,000 and is trying to recover. However, a strong upward move may be difficult without positive market news or fresh ETF investments.
The next important events are the November 18 FOMC Minutes and upcoming ETF investment flows.
What do you think? Can BTC move above $70,000 this weekend, or will sellers push the price down again before the December Fed meeting? 👇
$BTC$ETH$SOL
#cryptouniverseofficial #bitcoin #PPI #FederalReserve #Fed #Ethereum #CryptoMarket