Bitcoin Fails to React as US PPI Comes in Lower Than Expected
Bitcoin trades flat while other majors are mixed despite low PPI numbers.After weeks of uncertainty, macroeconomic headwinds facing Bitcoin and the broader crypto market may now be easing. Following the Wednesday, March 7, Consumer Price Index (CPI) data release for February 2025, recently released Producer Price Index (PPI) data suggests that wholesale prices also rose less than economists anticipated in February 2025. However, Bitcoin and the broader crypto market have failed to react to the news.Bitcoin and Other Crypto Majors Mixed At the time of writing, Bitcoin is trading flat while other majors are mixed. Bitcoin, for one, is trading around the $82,400 price point, representing a mild 1.3% decline in the past 24 hours. At the same time, Ethereum is down nearly 1%, Solana is up nearly 2%, BNB has increased 6%, and Cardano is down over 3%.The mixed market outlook comes despite recent cooler-than-expected PPI numbers, strengthening the case for a near-interest rate cut from the Federal Reserve. Specifically, on Thursday, March 13, the Bureau of Labor Statistics showed that wholesale prices rose 3.2% year-on-year (YoY), less than the 3.5% seen in January 2025, and the 3.3% projected by economists. On a monthly basis, prices were unchanged compared to the 0.6% increase in January 2025.Similarly, core PPI, which excludes typically volatile food and energy prices, rose 3.4% YoY, below January's 3.6% and economists' expectations of 3.5%. Month-on-month (MoM), these prices increased only 0.1%, far less than January's 0.5% and the anticipated 0.3%.The lack of a market reaction to the PPI contrasts with the Wednesday market rise on February's CPI that sent Bitcoin briefly above $84,000.
Text source: The Crypto Basic
