Meanwhile, the monthly figure stood at 0.9%, the largest increase since June 2022.
ManuelRD
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Bearish
#HotJulyPPI U.S. PPI data reaches 3.3% and BTC price plummets.
The price of BTC plummeted following the release of July's PPI data, which showed that U.S. inflation is rising and hopes for rate cuts are now fading.
The U.S. PPI far exceeded expectations, generating bearish sentiment in the market.
The price of BTC fell drastically below $120,000 after the report was released.
This comes just as the flagship cryptocurrency reached a new all-time high.
The U.S. PPI data far exceeded expectations, with a year-on-year increase of 3.3%.
This generated bearish sentiment among investors, and the price of BTC fell drastically below $120,000 after the report was released.
The U.S. PPI data is positive and causes a drop in BTC price.
Data from the U.S. Bureau of Labor Statistics shows that the CPI rose to 3.3% year-on-year in July, well above expectations of 2.5%. $BTC
$BNB
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