Wholesale inflation is back in focus. Here’s what PPI means for your money and Bitcoin

BTC

BTC/USDT

$65,875.67

+2.47%

$65,875.67

+2.47%

(24s)

24h Volume

$14,536,031,038.65

24h H/L

$65,995.00 / $63,678.83

Change: $2,316.17 (3.64%)

Long/Short

59.1%

Long: 59.1%Short: 40.9%

Funding Rate

+0.0009%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$65,872.47

▲ 0.19%

Volume (24h): -

Resistance Levels

Resistance 3$71,025.16

Resistance 2$68,137.57

Resistance 1$65,896.82

Price$65,872.47

Support 1$64,786.80

Support 2$61,834.89

Support 3$59,130.91

Pivot (PP):$65,740.49

Trend:Downtrend

RSI (14):42.1

CryptoSlate Editorial

(02:15 PM UTC)

1 min read

Reviewed byDavid Kim

604 views

0 comments

Bitcoin was designed as a hedge against inflation, but every hot inflation report in the past year has knocked its price lower, and Thursday's data was no different. The Producer Price Index rose 1.1% in May, lifting the annual increase to 6.5%, the fastest pace since November 2022 and well above the 0.7% monthly gain economists had expected.

Energy did most of the damage, as final demand goods…