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via CoinDesk · By CoinDesk Staff

Why is bitcoin down today: Hotter-than-expected inflation data knocks BTC below $80,000

BTC

BTC/USDT

$59,329.70

-3.12%

$59,329.70

-3.12%

(24s)

24h Volume

$35,718,704,042.37

24h H/L

$61,962.40 / $58,115.01

Change: $3,847.39 (6.62%)

Long/Short

71.1%

Long: 71.1%Short: 28.9%

Funding Rate

-0.0038%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$59,245.60

▼ -3.00%

Volume (24h): -

Resistance Levels

Resistance 3$64,190.33

Resistance 2$61,809.89

Resistance 1$60,140.67

Price$59,245.60

Support 1$59,102.70

Support 2$57,392.27

Support 3$52,643.43

Pivot (PP):$60,140.67

Trend:Downtrend

RSI (14):29.5

CoinDesk Staff

(01:12 PM UTC)

1 min read

Approved bySarah Chen

1196 views

0 comments

U.S. producer prices for April came in far hotter than expected on Wednesday, complicating the Federal Reserve's path forward to ease monetary policy later this year.

The April Producer Price Index rose 1.4% month-over-month, nearly triple economists’ expectations for a 0.5% increase. Annual producer inflation accelerated to 6%, while core PPI excluding food and energy climbed 1% on the month and…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Source

CoinDesk Staff · CoinDesk

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