Bitcoin braces for Fed's Powell as trader says $65K key BTC price level

The April print of the Producer Price Index came in according to expectations at 2.2% — still a third consecutive monthly increase.

“PPI inflation is now up for 3 straight months for the first time since April 2022,” trading resource The Kobeissi Letter wrote in part of aKobeissi referred to ongoing bets over how the Federal Reserve might approach reducing interest rates. “We expect Powell's speech tonight to be carefully worded as always, resulting in a muted market reaction,” trading firm QCP Capital wrote in its latest update to Telegram channel subscribers.

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