Bitcoin drops below $80,000 after hot PPI as ETF outflows accelerate
- —September US PPI rose the most since March 2022, with wholesale gasoline up 20.3%
- —Spot Bitcoin ETFs saw $679 million in net outflows in the week of October 5–9
- —Another $151.1 million left ETFs on October 12–14
- —A single-day outflow of $261.4 million was recorded on October 15
Why it matters: Sticky inflation raises the odds of further Fed tightening, while ETF outflows weaken the demand needed to absorb selling from existing holders.
Source: BeInCrypto JP