Crypto Market Surges as Key Economic Data Shifts Investor Focus
Main Idea
The crypto market experiences significant movements with Bitcoin and Ethereum reaching new highs, while US PPI data exceeds expectations, influencing investor focus and potential Federal Reserve actions.
Key Points
1. Bitcoin reached a new all-time high of $120,975, while Ethereum remained robust above $4,700.
2. US PPI data exceeded expectations with a 3.3% increase (expected 2.5%) and Core PPI at 3.7% (expected 3%).
3. The higher-than-expected PPI data could influence the Federal Reserve's decision on a potential interest rate cut in September.
4. Bitcoin and Ethereum prices retreated slightly following the PPI data release, with Bitcoin at $120,000 and Ethereum at $4,650.
5. The CPI data earlier in the week was favorable, supporting the case for a rate cut, but PPI's rise introduced new market risks.
Description
Bitcoin hit a new all-time high before retreating to $120,000. US PPI data significantly exceeded expectations, impacting market sentiment. Continue Reading: Crypto Market Surges as Key Economic Data Shifts Investor Focus The post Crypto Market Surges as Key Economic Data Shifts Investor Focus appeared first on COINTURK NEWS .
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