The Bureau of Labor Statistics has released Producer Price Index (PPI) data for November showing a month-over-month increase of 0.3%.

Expectations were for a 0.2% increase, giving a worse-than-expected result and further signs inflation is not under control.

PPI shows the average change over time in the selling prices received by domestic producers for their output.

Bitcoin’s initial response saw a 1% downside swing on the 13:30 15-minute candle, to bottom at $17,060.

Bitcoin 15 minute chart
Source BTCUSDT on TradingViewcom

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