Bitcoin 
$64,709 price exceeded $90,000 at the time of this writing, bringing joy to traders. Altcoins are also moving towards their annual peaks once again. The surge of large market-cap altcoins like DOGE has increased the risk appetite for these cryptocurrencies. Today, the U.S. producer inflation data was released.
U.S. Producer Inflation Data Released
For over two quarters, cryptocurrency traders had faced significant losses in altcoins due to ongoing fluctuations. However, this situation ended as the price of BTC surpassed the $73,777 threshold. Investors, having not found exactly what they wanted in October, began to be convinced by the surge seen in November that historical data indicates a rising period lasting for months.
Inflation Trends and Market Reactions
The Fed must continue its rate cuts, which requires either a decrease in inflation or at least stability. The Producer Price Index (PPI) data, a crucial leading indicator for consumer inflation, was recently released. The annual expectation for core PPI was announced at 3%, up from last month’s 2.8%.
Core PPI exceeded expectations at 3.1%. However, the annual PPI was reported at 2.4%, up from 1.8% in the previous month. Since the expectation for PPI was 2.3%, the variation was not excessively high. Furthermore, figures around 2% are unlikely to cause significant panic. As unemployment claims were reported at 217K against a 220K expectation, short-term fluctuations may occur.
