Bitcoin price don drop under $80k after US PPI jump 6% — risk say Fed fit cut
Bitcoin price drop sharply after US Producer Price Index (PPI) beat expectations. Final demand PPI rise 1.4% m/m (vs 0.5% consensus) and yearly producer inflation accelerate to 6.0% (vs 4.9%). Core PPI climb 1.0% m/m and 5.2% y/y, make new inflation fear strong.
The reaction make $80,000 be the first intraday technical line traders dey watch. Bitcoin price fall from low-$81,000s to about $79,706, touch session low near $79,557. Cross-asset signals match the risk-off move: US Treasury yields rise, US Dollar Index hold near 98.49, and WTI crude remain firm.
This hot PPI follow a stronger-than-expected CPI print the day before, make people expect say Fed fit delay rate cuts and liquidity fit tighten. Traders’ near-term trigger na conditional: Bitcoin price need to reclaim and hold above $80,000 while yields stop rising and broader markets (e.g., SPY) stabilize. If the break below persist, support dey expected near $78,000, with $75,000 marked as major zone.
Overall, the latest impulse na macro-driven and intraday structure don describe as “broken” until the $80,000 level dem recover.
Bearish
Di PPI wey shock pass expectation dey confirm di “higher-for-longer” inflation story and e dey increase chance say Fed go delay rate cuts. Dat typically tighten financial conditions and reduce crypto risk appetite. For short term, Bitcoin fail to hold di $80,000 line and e dey trade below am, with yields and USD supporting a risk-off environment — conditions we fit keep downside pressure active toward $78,000 and maybe $75,000. For long term, impact go depend whether inflation data continue cool; but both summaries call di current move macro-driven and di intraday structure "broken" until $80,000 dey reclaimed, keeping near-term bias bearish.