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Crypto market sees brief relief after cooler US PPI data

By Rony Roy

The crypto market has seen a brief recovery following Friday’s softer than expected US producer inflation report, with Bitcoin rebounding toward $70,000 after heavy selling pushed it below $69,000 earlier in the day. According to the US Producer Price Index…

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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Inflation

The rate at which the general level of prices for goods and services rises over time, usually measured over twelve months.

When prices rise faster than wages, households can buy less with the same income, and central banks may raise interest rates in response.

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

More about Bitcoin

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