Crypto Market Extends Gains As U.S. PPI Inflation Drops To 2.3%
The post Crypto Market Extends Gains As U.S. PPI Inflation Drops To 2.3% appeared on BitcoinEthereumNews.com. The crypto market is up today and looks set to rally higher on the back of the US PPI inflation data release. The data showed that inflation has dropped, lower than expectations, a development which supports a Fed rate cut and is positive for Bitcoin and other cryptocurrencies. Crypto Market In Focus As U.S. PPI Inflation Falls TradingView data shows that the crypto market cap quickly spiked on the back of positive U.S. PPI inflation data. The market cap is up 2% today, with a value of around $3.75 trillion. Source: TradingView The Bitcoin price has led this rally, rising to as high $119,000 today. Other crypto prices are also up, with Ethereum coming close to touching the psychological $3,200 level. XRP, Solana, and Dogecoin are up 2%, 3.57%, and 3.66% respectively, in the last 24 hours. The crypto market is also eyeing further gains, thanks to the inflation data. According to Bureau of Labor data, the yearly PPI inflation dropped to 2.3% in June, lower than expectations of 2.5%. The monthly inflation also dropped to 0.0%, lower than the expected 0.2%. The Core PPI data also came in positive. The yearly figure dropped to 2.6%, compared to the 2.7% predicted by market experts. Meanwhile, the monthly figure fell to 0.0% as against 0.2%. A lower-than-expected figure is a positive for the crypto market since it could persuade the Fed to cut rates. A rate cut could send crypto prices higher since quantitative easing (QE) could inject more liquidity into the market. It is worth mentioning that the PPI also provides some relief, considering that the yearly CPI inflation rose to 2.7% in June, the highest level since February 2025. As such, this allays fears that inflation is again spiraling. Fed Still Not Likely to Cut Rates This July The…
The post Crypto Market Extends Gains As U.S. PPI Inflation Drops To 2.3% appeared on BitcoinEthereumNews.com.
The crypto market is up today and looks set to rally higher on the back of the US PPI inflation data release. The data showed that inflation has dropped, lower than expectations, a development which supports a Fed rate cut and is positive for Bitcoin and other cryptocurrencies. Crypto Market In Focus As U.S. PPI Inflation Falls TradingView data shows that the crypto market cap quickly spiked on the back of positive U.S. PPI inflation data. The market cap is up 2% today, with a value of around $3.75 trillion. Source: TradingView The Bitcoin price has led this rally, rising to as high $119,000 today. Other crypto prices are also up, with Ethereum coming close to touching the psychological $3,200 level. XRP, Solana, and Dogecoin are up 2%, 3.57%, and 3.66% respectively, in the last 24 hours. The crypto market is also eyeing further gains, thanks to the inflation data. According to Bureau of Labor data, the yearly PPI inflation dropped to 2.3% in June, lower than expectations of 2.5%. The monthly inflation also dropped to 0.0%, lower than the expected 0.2%. The Core PPI data also came in positive. The yearly figure dropped to 2.6%, compared to the 2.7% predicted by market experts. Meanwhile, the monthly figure fell to 0.0% as against 0.2%. A lower-than-expected figure is a positive for the crypto market since it could persuade the Fed to cut rates. A rate cut could send crypto prices higher since quantitative easing (QE) could inject more liquidity into the market. It is worth mentioning that the PPI also provides some relief, considering that the yearly CPI inflation rose to 2.7% in June, the highest level since February 2025. As such, this allays fears that inflation is again spiraling. Fed Still Not Likely to Cut Rates This July The…
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