US producer prices at 6.3 percent: the $80,000 level decides the leverage question up to October 28

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.US producer prices rose 1.3 percent on the month and 6.3 percent on the year in September, running well above consumer prices. Bitcoin fell to just under $80,000 while the probability of a rate rise on October 28 jumped from 22 to 47 percent within a day and fell back to 26 percent.The US Labor Department published September's producer prices this Thursday, and they come in markedly hotter than Wednesday's consumer price index: prices for final demand rose 1.3 percent against August and 6.3 percent over twelve months. That has two consequences for your portfolio. The market is once again pricing in a rate rise on October 28, and it has already taken two different views of that today. Bitcoin fell to just under $80,000 in the turbulence and is back at $82,266. The producer price index measures what producers receive for their goods and services before retailers and consumers pay for them. It therefore sits at the start of price formation, not at the end. That is exactly what make...