Bitcoin, which started the week with gains ahead of key U.S. economic data releases, initially climbed above $63,000. However, it later dropped to $61,000 following the announcement of the Producer Price Index (PPI). Market volatility for BTC remains high as investors focus on this week’s economic indicators.
Here are the released PPI figures:
- Core PPI (MoM): Actual 0.5%, Expected 0.2%, Previous 0.2%
- Core PPI (YoY): Actual 2.4%, Expected 2.4%, Previous 2.4%
- PPI (MoM): Actual 0.5%, Expected 0.3%, Previous 0.2%
- PPI (YoY): Actual 2.2%, Expected 2.2%, Previous 2.1%
The higher-than-expected monthly Core PPI suggests persistent inflationary pressures, which could influence Federal Reserve policy and, consequently, market movements in both cryptocurrency and traditional assets.