Bitcoin Price Rejects $120k After Mixed US PPI Inflation Report
2025-07-18 15:22:17
Main Idea
Bitcoin's price briefly surged above $120k following a mixed US PPI inflation report but later retreated, while the US House passed three major crypto-related bills, boosting industry optimism.
Key Points
1. The US Producer Price Index (PPI) showed no change in June, below the expected 0.2% increase, suggesting easing inflation pressures.
2. Bitcoin initially rose from $117,600 to $119,400 after the PPI release and later reached above $120,000, but sellers caused a pullback to $118,742.
3. Goods prices rose 0.3% while service prices declined 0.1%, with annual headline PPI at 2.3%, the lowest since September 2024.
4. The US House passed three crypto bills: the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act, with varying levels of bipartisan support.
5. The bills were part of a Republican-led 'crypto week,' with the GENIUS Act receiving the most bipartisan backing (308-122).
Description
Bitcoin briefly topped $120k after a flat PPI report but quickly fell as traders eyed mixed details The June headline PPI was flat, but underlying data shows inflation remains above the Fed’s 2% target In other news, the U.S. House passed three major crypto bills, boosting the industry’s outlook The U.S. Producer Price Index (PPI) showed no change in June, according to data released Wednesday by the Bureau of Labor Statistics. This was below economists’ expectations of a 0.2% increase, fueling h...
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