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![Why is the crypto market up today?](https://d1-invdn-com.investing.com/content/picb1d824364dea288cc4003291c44b4f64.jpg)
The crypto market is up today and (BTC) price jumped up 3.1% on Nov. 15 reaching $17,171, as confidence briefly returns to the global macro outlook with a lower-than-expected producer price index (PPI) print and a cooling U.S. dollar.
Crypto and equities markets responded to PPI data which showed wholesale prices rose 0.2% for the month and 8% from a year ago. This is less than the expected 0.4% monthly estimate and the previous month’s 8.4% yearly increase. The news sent the Nasdaq up 2.5% and the S&P 500 up 1.4%.
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