The world’s largest cryptocurrency, Bitcoin (BTC), has started a new upward move in recent hours and managed to rise above $84,000 today after staying below $80,000 for days.
The reason for the rise is thought to be today’s better-than-expected PPI data and the White House’s statement that it is open to bargaining on tariffs imposed on China. Markets reacted positively after the White House said President Donald Trump was “optimistic” that China would seek a deal with the US.
BTC fiyatının son saatlerde yaşadığı yükselişi gösteren grafik.
The better-than-expected Producer Price Index, which showed prices paid to producers fell 0.4% in March from the previous month and eased from 3.2% to 2.7% on an annual basis, provides an insight into President Donald Trump’s aggressive trade policies before they go into full effect.
Economists had expected monthly prices to rise 0.2% and accelerate to 3.3% on an annual basis.
The Bitcoin price has increased its gains by 5.6% in the last 24 hours. It is noteworthy that a significant portion of altcoins are having difficulty keeping up with BTC’s recovery speed.
The volatility in the cryptocurrency market has resulted in liquidations. In the last 24 hours, $242 million worth of cryptocurrencies were liquidated. $175 million of these were in short positions.
Table showing the liquidation amounts in the cryptocurrency market in the last 24 hours.
*This is not investment advice.
