Reported 2 days ago
Bitcoin's price soared to $113,700 early Wednesday following softer-than-expected U.S. Producer Price Index (PPI) data for August, which indicated a decrease in wholesale inflation. The core PPI also fell, suggesting easing inflation pressures. As traders react to the potential for more accommodating monetary policy from the Federal Reserve, other cryptocurrencies like Ether and Solana also saw gains. However, concerns remain as bitcoin's recent performance has been inconsistent despite favorable news.
Source: YAHOO