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Crypto Daybook Americas: Bitcoin Focuses on PPI Ahead of Fed Decisions
A comprehensive overview of the upcoming producer price index report and its implications for the crypto market, particularly Bitcoin.
What to Know:
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Market Outlook
After the recent spike in U.S. consumer price index (CPI) figures, focus now shifts to the producer price index (PPI) report scheduled to be released at 8:30 a.m.
Analysts predict a year-over-year PPI of 3.2%, indicating a decrease from December’s 3.3%, with a month-on-month estimate rising to 0.3% from 0.2%. Core PPI is expected to reflect inflationary pressures increasing to 0.3% from zero in December.
Any unexpected data could complicate monetary policy, delaying interest rate adjustments. Conversely, softer figures could bolster risk assets by weakening the dollar and alleviating treasury yields.
Following CPI data, the markets exhibited volatility. Treasury yields peaked at 4.6% before slightly retreating. The Dollar Index fluctuated, climbing to 108.5 then falling back below 108. At the same time, Bitcoin (BTC), U.S. equities, and gold ended the trading session positively.
Upcoming Events:
- February 13: PPI report from the U.S. Bureau of Labor Statistics.
- February 18: TON becomes the exclusive blockchain for Telegram’s Mini App ecosystem.
For additional in-depth analysis, refer to the detailed sections regarding token events, market movements, and notable earnings announcements.