Bitcoin (BTC) managed to hold the $30,000 support at the April 12 Wall Street open, with more United States macroeconomic data boosting bulls. BTC/USD was hovering near $30,250 on Bitstamp, with a slowdown in volatility amidst the U.S. Producer Price Inflation (PPI) data providing a timely hint that inflation was slowing faster than expected. Data from Cointelegraph Markets Pro and TradingView indicated that headline PPI came in at 2.7% year-on-year, versus market expectations of 3%, an encouraging result for risk assets. Financial commentary resource The Kobeissi Letter noted that the overall PPI inflation rate has fallen from 11.3% to 2.7% since June 2022, less than one year ago, and the focus is now on the Federal Reserve’s next interest rate change, which is due in May. Meanwhile, Bitcoin failed to convince everyone that its 10-month peak would continue, and it was largest altcoin Ether (ETH) stealing the limelight, passing $2,000 for the first time since August last year.
Bitcoin-friendly PPI data boosts bulls as Ether price fights for $2K
