Today, Bitcoin and global markets are focused on the Producer Price Index (PPI) data following yesterday's release of US inflation figures. Although experts stated that they do not expect a Federal Reserve rate hike in September since the Consumer Price Index (CPI) data met expectations, according to FedWatchTool data, the probability of a rate hike in September is still estimated to be above 40%.
According to expert analysts, a lower-than-expected PPI figure could be interpreted as a sign of easing inflationary pressure and increasing the likelihood of a Fed rate cut. In this scenario, Bitcoin and other risk assets could react positively. Conversely, a higher-than-expected PPI figure could weaken expectations for a rate cut, creating short-term selling pressure on Bitcoin.
Today, all market attention is focused on the Producer Price Index (PPI) data, but July data for the US Producer Price Index (PPI), one of the indicators the Federal Reserve closely monitors when making decisions, was also released.
The released data is as follows:
Core Producer Price Index (monthly): Announced 0.2% - Expected 0.3% - Previous 0.2%
Core Producer Price Index (annual): Announced 4.2% - Expected 4.2% - Previous 4.7%
Producer Price Index (monthly): Announced 0.0% - Expected 0.2% - Previous -0.3%
Producer Price Index (annual): Announced: 4.7% - Expected: 4.9% - Previous: 5.5%
After the release of PPI data, Bitcoin's initial reaction was as follows:
*This is not an investment recommendation.
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