Why is the crypto market up today? By Cointelegraph

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%.