Bitcoin (BTC) shrugged off gains at the March 13 Wall Street open as US inflation markers continued to fall.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Good news is bad news? Bitcoin follows stocks lower
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $81,500, down 2.3% on the day.
The February print of the Producer Price Index (PPI) came in below median expectations, copying the Consumer Price Index (CPI) results from the day prior.
“On an unadjusted basis, the index for final demand advanced 3.2 percent for the 12 months ended in February,” an accompanying press release from the US Bureau of Labor Statistics (BLS) stated.
“In February, a 0.3-percent increase in prices for final demand goods offset a 0.2-percent decline in the index for final demand services.”
US PPI 1-month % change.