BREAKING: Crypto Drops as Producer Prices Spike
Bitcoin and Ethereum fell sharply after U.S. PPI data showed a bigger-than-expected monthly jump, sparking inflation worries.
Bitcoin fell to $119,624 and Ethereum slid to $4,609.83 in the past hour. The drop followed the release of fresh U.S. Producer Price Index (PPI) figures, which revealed a significant month-over-month increase. Core PPI and service sector costs were the main drivers of the rise, suggesting stronger underlying inflation pressures. The data has heightened concerns that the Federal Reserve may keep monetary policy tighter for longer, dampening investor appetite for risk assets like crypto.
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