Why Is the Crypto Market Bleeding Today?
The crypto market continued plunging after unfavorable macroeconomic data. It erased the gains that came after the CLARITY Acts advancement in the U.S. Senate. Why Is The Crypto Market Down Today? For context, the crypto market decline follows the release of hotter-than-expected U.S. inflation data, leading to another round of selling of major digital assets. Bitcoin price fell below the key $80,000 mark and altcoins followed suit following a decline in investor appetite for risk. Traders are cautious of the Federal Reserves intentions to maintain an elevated interest rate regime for a longer duration. The latest U.S. inflation data shows that the core Producer Price Index (PPI), which strips out food and energy, rose 1% in April 2026. However, economists had expected a much lesser increase of just 0.3%. The reading was the highest increase on the month since March 2022 and was accompanied by an upward revision of the same month by 0.2%. Core PPI actually increased 5.2% per year, well exceeding the 4.3% market forecast. The traders saw this as a sign of the Federal Reserves hawkish stance in monetary policy. It may put pressure on speculative assets like cryptocurrencies. Bitcoin price is approximately $79,094, according to TradingView. Ethereum also lost 3.34% of its









