US PPI Cooler Than Expected — Bitcoin Reclaims $70,000
October PPI rose 0.3% MoM vs 0.4% forecast, 6.5% YoY vs 6.6% expected — the first softer inflation print in weeks. Core PPI matched at 0.3%. The cooler print eases fears of a bigger December Fed hike, and Bitcoin bounced back above $70,000 from its $67,568 day low. Still, annual PPI at 6.5% is the highest since Nov 2022 — inflation is far from beaten.
Not financial advice.
$BTC #Bitcoin #PPI #Fed
October PPI rose 0.3% MoM vs 0.4% forecast, 6.5% YoY vs 6.6% expected — the first softer inflation print in weeks. Core PPI matched at 0.3%. The cooler print eases fears of a bigger December Fed hike, and Bitcoin bounced back above $70,000 from its $67,568 day low. Still, annual PPI at 6.5% is the highest since Nov 2022 — inflation is far from beaten.
Not financial advice.
$BTC #Bitcoin #PPI #Fed
