The US Producer Price Index (PPI) has increased to 2.4%, rising from the previous month’s rate of 1.9%. This increase came just after the US Consumer Price Index (CPI) also exhibited a spike for the first time in eight months, generating concerns among market participants.
Speculation is circulating about whether this inflationary trend could influence Bitcoin's potential rally to $100K. The current economic landscape may present challenges for cryptocurrencies, given the increased inflationary pressures.
Investors are closely monitoring these economic indicators, as rising inflation can affect the purchasing power of fiat currencies and subsequently the investment strategies in the digital currency space.
