Bitcoin Reaches 3-Week Peak After CPI Data

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Bitcoin moved up to its highest levels since June 22 as US PPI inflation numbers provided the week’s second surprise macro data drop.

Bitcoin (BTC) saw three-week highs on Wednesday as US inflation data beat expectations for a second day.

Bitcoin sees copycat bullish price action as US inflation data cools for a second day running.

Risk assets get a more positive outlook as Fed rate-cut odds drop.

Traders stay conservative over Bitcoin’s ability to continue higher.

Bitcoin gains after “much better-than-expected” US PPI

The June print of the Producer Price Index (PPI) came in cool at 5.5% year-on-year after a 0.3% monthly decrease, per data from the Bureau of Labor Statistics (BLS).

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