• Bitcoin has broken through $25,000, while Gold has broken through $1920 on lower than expected PPI data.
• US PPI was lower than expected across all measures: PPI -0.1% M/M, Exp. 0.3%; PPI 4.6% Y/Y, Exp. 5.4%; PPI Core 0.0% M/M, Exp. 0.4%; and PPI Core 4.4% Y/Y, Exp. 5.2%.
• CryptoSlate’s latest report dissects the dying crypto bank Silvergate to see why it went bankrupt and how other banking giants could share its destiny in the future.
US PPI Data
Bitcoin broke $25,000 and Gold broke $1,920 on lower than expected US Producer Price Index (PPI) data across all measures: M/M at -0.1%, with an expectation of 0.3%; Y/Y at 4.6%, with an expectation of 5.4%; Core M/M at 0%, with an expectation of 0