Bitcoin price just lost $80k because US PPI hit 6% matching 2022 levels, stoking inflation fears
Bitcoin Bitcoin price just lost $80k because US PPI hit 6% matching 2022 levels, stoking inflation fears Bitcoin just fell below $80,000 as a hotter-than-expected US inflation print pushed crypto and equities lower. Bitcoin price feels hot inflation impact BTC price slipped from the low $81,000 area into $79,706, with the session low marked near $79,557. The break turned $80,000 from a round-number reference into the first tactical line for intraday structure. Bitcoin price decline alongside rising US Treasury yields, oil prices, and US dollar index The move followed the April US Producer Price Index. Final demand PPI rose 1.4% month over month, far above the 0.5% consensus and the prior 0.7% reading. The annual rate accelerated to 6.0% from 4.3%, above the 4.9% consensus. Core PPI rose 1.0% month over month against expectations for 0.3%, while core PPI year over year moved to 5.2% from 4.0%. Trading Economics data also shows the narrower measure excluding food, energy, and trade services also firmed, rising 0.6% month over month and 4.4% year over year. PPI data (source: Tradingeconomics) The PPI surprise followed yesterdays CPI report, in which headline consumer inflation accelerated to 4.8% year over year from the prior 3.3% reading, above expectations of 4.5%. Bitcoin was waiting for cuts. Hot CPI









