American PPI data comes in hot by 3.3 %, and the BTC price is disrupted star-news.press/wp

American PPI data came higher than expectations, increasing to 3.3 % on an annual basis (YOY). This sparked a tremendous feeling among investors, as the BTC price decreased sharply to less than $ 120,000 after the report was issued.

PPI data comes in the United States hot, which leads to the collapse of the BTC price

we Work statistics office data It shows that the product price index rose to 3.3 % in July, YOY, which was much higher than 2.5 % expectations. Meanwhile, the monthly data was 0.9 %, the largest increase since June 2022.

Meanwhile, Core PPI also came at 0.9 % on a monthly basis (MOM) and 3.7 % on an annual basis, which was 0.2 % higher than expectations and 2.9 % respectively. This led to a tremendous collapse in the BTC price, which has decreased sharply from the psychological level of $ 120,000.

View trading data He explains that the main encryption was trading around the level of $ 120,000 in anticipation of PPI data, which many merchants expected to show that inflation was fixed, just like consumer price index data. However, this is not the case, as the American economy now seems to face increased inflation.

As COININAPE mentioned, CPI data reached 2.7 %, which indicated that inflation was fixed, which increases optimism about reducing the increase in the increase in the increase in September. The chances of 25 basis points (BPS) increased to 99 %.

However, with this recent data, the Federal Reserve may reconsider whether the cut rates may be the right step, as inflation is high. Keeping the rates for the BTC price and the broader encryption market is because it will reduce morale, as investors prefer the safest assets.

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Alignafe Adeyemi

Boluwatife Adeyemi is a writer and editor of encryption news that covers topics that exceed several ports. Its speed and alacity covering uniform break updates. He has a talent to simplify the most technical concepts and make them easy to understand beginners in encryption. Boluwatife is also a lawyer, a law certificate from the University of Ibadan. It also holds a certificate in digital marketing. Away from writing, he is a fan of thirsty basketball, traveler, and part -time Degen.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Why confidence: Coingaape: Coingepe has covered the coded currency industry since 2017, with the aim of providing useful visions to our readers. Journalists and analysts bring years of experience in market analysis and Blockchain technology to ensure realistic accuracy and balanced reports. By following our editorial policy, our book is achieved from every source, and verifies each story, and they depend on the reputable sources, quotes and media properly. We also follow a strict review methodology when evaluating exchanges and tools. From Blockchain projects emerging and launching operations to industry events and technical developments, we cover all aspects of the area of digital assets with a fixed commitment to the relevant information in time.

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