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Bitcoin (BTC) $ 23,010.17
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tron
TRON (TRX) $ 0.062434
bitcoin
Bitcoin (BTC) $ 23,010.17
ethereum
Ethereum (ETH) $ 1,576.84
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 305.76
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.410765
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.088736
cardano
Cardano (ADA) $ 0.383104
solana
Solana (SOL) $ 24.09
matic-network
Polygon (MATIC) $ 1.11
polkadot
Polkadot (DOT) $ 6.42
tron
TRON (TRX) $ 0.062434
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HomeCoinsBitcoinBitcoin sinks 4% to $20,400 as US producer costs present inflation easing

Bitcoin sinks 4% to $20,400 as US producer costs present inflation easing

Bitcoin fell 4%, bottoming at $20,400 following information of the U.S. Producer Value Index (PPI) coming in higher than anticipated.

December 2022’s PPI got here in at 6.2% year-over-year (YoY,) lower than the anticipated 6.8% price. The information signaled an easing of inflationary stress, giving scope for the Fed to sluggish its present tempo of rate of interest hikes.

The PPI measures modifications within the costs paid by producers and is usually taken as an indicator of upcoming shopper value knowledge.

Bitcoin tanks

On the discharge of PPI knowledge, Bitcoin initially moved increased, reaching $21,650 by 14:15 UTC.

Nonetheless, an hour later, the main cryptocurrency suffered a pointy sell-off that discovered assist at $20,400. A robust bounce adopted, topping out at $21,140.

Bitcoin 15 minute chart
Supply: BTCUSDT on TradingView.com

CoinsTeacher

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