🔥The crypto market experiences liquidations following the PPI results 🤔
The price of #bitcoin fell more than 2%, while the price of #ETH closely followed, after the Producer Price Index data was revealed, which was not encouraging, raising concerns in #mercados and liquidations.
The monthly Producer Price Index (#PPI ) marked 0.9%, while the annual marked 3.3%, well above the expected 2.5%. This new data will be important for the Federal Reserve's decision regarding interest rates in the upcoming September.
Now, this result not only impacted the crypto market but also the traditional market, opening lower. What is important to highlight is that the CME Group data still reflects a 92.25% probability that interest rates will be reduced, which, if true, would benefit risk assets like Bitcoin.
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