Bitcoin Drops to $78,775 After US PPI Records Sharpest Monthly Rise Since 2022
Bitcoin extended its decline Wednesday, falling below $79,000 and touching $78,775 after a hotter-than-expected US producer-price report. The token had already slipped under $80,000 earlier in the day after April PPI rose 1.4% from a month earlier, the sharpest increase since March 2022.
The producer-price index climbed 6% from a year earlier, while core PPI increased 1% on the month and 5.2% from a year earlier, all above forecasts. The hotter reading was followed by an initial break below $80,000 and a later slide to below $79,000.
From the sources (25 posts)
@cointelegraph🚨 NOW: The US 30-Year Treasury yield has climbed to 5.03%, just 8 basis points away from a new 19-year high per Bianco Research.
@maxcrypto🚨 BREAKING 🚨 🇺🇸 US PPI came in at 6% Expectations: 4.9%
@wallstenginePPI 6% YoY, Est. 4.9% PPI 1.4% MoM, Est. 0.5% PPI Core 5.2% YoY, Est. 4.3% PPI Core 1% MoM, Est. 0.3%
@cryptorover💥 JUST IN: US April PPI comes in at 6%, above expectations of 4.9%.
@firstsquawkUS PPI (MOM) (APR) ACTUAL: 1.4% VS 0.5% PREVIOUS; EST 0.5%
@zerohedge*US APRIL PRODUCER PRICES RISE 1.4% M/M; EST. +0.5% *US APRIL PRODUCER PRICES RISE 6.0% Y/Y; EST. +4.8%
@firstsquawkUS CORE PPI (MOM) (APR) ACTUAL: 1.0% VS 0.1% PREVIOUS; EST 0.3%
@firstsquawkUS PPI (YOY) (APR) ACTUAL: 6.0% VS 4.0% PREVIOUS; EST 4.8%
@financialjuice⚠️🔴 US PPI YoY Actual 6% (Forecast 4.8%, Previous 4.0%, Revised 4.3%) US PPI MoM Actual 1.4% (Forecast 0.5%, Previous 0.5%, Revised 0.7%) US Core PPI YoY Actual 5.2% (Forecast 4.3%, Previous 3.8%, Revised 4%) US Core PPI MoM Actual 1% (F
@firstsquawkUS WHOLESALE INFLATION JUST CAME IN HOTTER THAN EXPECTED BIG SIGN THAT INFLATION PRESSURES ARE HEATING UP AGAIN
@cnbcWholesale prices surged 1.4% in April, much more than expected
@bulltheoryioBREAKING: 🇺🇸 US April PPI came in higher than expected at 6% vs expectations at 4.9% This is the highest reading in almost 3.5 years.
@amitisinvestingAPRIL PRODUCER PRICE INDEX: Headline PPI +6% vs +4.9% expected Core PPI +5.2% vs +4.3% expected Highest PPI print since March 2022 🫠
@kobeissiletterBREAKING: April PPI Inflation surges to 6.0%, well above expectations of 4.9% and the highest level since January 2023. Core PPI Inflation rose to 5.2%, above expectations of 4.3%. Both CPI and PPI Inflation are now officially at 3+ year
@kevrgordonPPI components that map over to PCE suggest another firm print in April, but there was a notable reversal in the portfolio management component (which was the only decliner in this group)
@openoutcrierPPI Final Demand (Apr) 1.4% vs 0.5% Expected, Ex Food and Energy 1% vs 0.3%
@kevrgordonPPI jumped by 1.4% m/m in April. Going back in the index’s history (to 2010), the only other month that saw a larger increase was March 2022
@thelonginvestPPI - That's a bit spicy Headline PPI +6% vs +4.9% expected Core PPI +5.2% vs +4.3% expected Highest PPI print since March 2022
@kevrgordonCore PPI jumped by 1% m/m in April. Only a few months in the history of this index (back to 2010) in which we saw larger increases
@geiger_capitalPPI 🔥🔥🔥 PPI MoM: 1.4% vs 0.5% exp. PPI YoY: 6.0% vs 4.8% exp. Accelerating inflation trend…
@lisaabramowicz1When you strip out food, energy and trade, US producer prices surged the most in April in five years on a year over year basis.
@coindeskJUST IN: U.S. producer inflation comes in well above expectations. PPI YoY: 6.0% vs. 4.9% est. Core PPI YoY: 5.2% vs. 4.3% est.
@businessUS wholesale inflation accelerated in April to the fastest pace since 2022 on a war-driven increase in energy prices that’s feeding into higher transportation costs.
@geiger_capitalPPI in April came in higher than all 48 forecasters in Bloomberg’s survey predicted.
@tyler_did_itPPI very hot 🥶