Bitcoin holds near $81,000 as wholesale prices jump 1.3%
Photo: Crypto Briefing
September producer prices posted their biggest monthly gain since March 2022, and crypto markets barely moved US wholesale inflation ran hot in September. The Producer Price Index climbed 1.3% month-over-month, its sharpest monthly rise since March 2022. Bitcoin , meanwhile, stayed parked close to $81,000. For an asset often described as an inflation hedge, it reacted to an inflation shock with a shrug. The annual PPI figure reached 6.3%. Energy did most of the damage, accounting for more than 80% of the increase in goods prices. September’s report was dominated by fuel.
Also reported by The Defiant.
Source: Crypto Briefing
