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BREAKING: 🇺🇸 The US annual PPI was announced at 6%.
Expectation: 4.9%
Previous: 4%
The data came in well above expectations, which is negative for the markets.
The increasing inflationary pressure on the producer side could weaken the Fed’s interest rate cut expectations.
Therefore, short-term volatility and selling pressure may be seen in #Bitcoin and altcoins.
Be cautious of liquidations.