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The U.S. Department of Labor released its latest Producer Price Index (PPI) report on the evening of January 14. The data revealed that the U.S. December PPI year-over The price of bitcoin fell suddenly by 5 per cent in the space of an hour after the US Department of Justice revealed plans to make a major cryptocurrency-related Total liquidations exceeded $1.7 billion as Bitcoin (BTC) price dropped to establish an intra-day low of $94,150 on Monday. The profit-booking appetite extended to Bitcoin traded around $96,500 Tuesday following the release of US December Producer Price Index (PPI) data, which indicated a deceleration in producer price On Decem, Bitcoin was trading at approximately $101,698, reflecting a marginal recovery from its intra-day low but still under pressure due to hawkish signals from the Federal

Bitcoin Price Dips Following DOJ Announcement and December PPI Reveal

Bitcoin (BTC) experienced a notable price dip recently, triggered by a confluence of factors: a major cryptocurrency-related announcement from the U.S. Department of Justice (DOJ) and the release of the December Producer Price Index (PPI) data from the U.S. Department of Labor.

The price of bitcoin fell suddenly by 5 per cent in the space of an hour after the US Department of Justice revealed plans to make a major cryptocurrency-related announcement. This news injected uncertainty into the market, contributing to a sell-off.

Adding to the downward pressure, The U.S. Department of Labor released its latest Producer Price Index (PPI) report on the evening of January 14. The data revealed that the U.S. December PPI year-over indicated deceleration in producer price, potentially signaling a shift in economic conditions and impacting investor sentiment towards risk assets like Bitcoin. Bitcoin traded around $96,500 Tuesday following the release of US December Producer Price Index (PPI) data, which indicated a deceleration in producer price.

The combined effect of the DOJ announcement and the PPI data release led to significant market volatility. Total liquidations exceeded $1.7 billion as Bitcoin (BTC) price dropped to establish an intra-day low of $94,150 on Monday. This underscores the sensitivity of the cryptocurrency market to regulatory news and macroeconomic indicators.

On Decem, Bitcoin was trading at approximately $101,698, reflecting a marginal recovery from its intra-day low but still under pressure due to hawkish signals from the Federal. While the market showed some resilience, the underlying concerns stemming from the DOJ announcement and PPI data continue to weigh on Bitcoin's price.

Investors are closely monitoring the situation, awaiting further clarification from the DOJ and analyzing the broader implications of the PPI data on future monetary policy. Understanding these factors is crucial for navigating the current market conditions and anticipating potential price movements in the Bitcoin market.

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