Bitcoin slips under $80K after US PPI gains most in four years
BTC when published $81,778Now $80,617 ▼ −1.42% since it was published
BTC buyers attempted to defend $80,000 support after September US producer inflation overshot expectations by 100 basis points for the largest monthly gain since March 2022 Bitcoin (BTC) dipped below $80,000 on Thursday as US Producer Price Index (PPI) data significantly beat expectations. Data from TradingView showed BTC/USD slipping to its lowest levels since Sept. 18, declining as much as 1.8% on the day, before rebounding to around $81,000. September PPI came in at 6.3%, a full 100 basis points above its anticipated level, while core PPI rose to 5% versus an expected 4.4%, per data from the Bureau of Labor Statistics (BLS). “The September increase is the largest advance since rising 1.7% in March 2022.
First reported by Cointelegraph. This page is a short excerpt; the full text is theirs.
