Macro· ★★★★· bearish·

Bitcoin drops 3.6% to $81,500 as hot US PPI fuels Fed rate hike concerns

  • —US September PPI rose 1.3% MoM, the largest increase since March 2022
  • —Annual wholesale inflation reached 6.3%, the fastest since December 2022
  • —Bitcoin fell to a 24-hour low of $80,443, down 3.6%
  • —CME FedWatch puts October rate hike odds at 34%
Why it matters: A second hot inflation print in a row raises the risk of further Fed tightening, pressuring bitcoin and risk assets.
#BTC
Source: crypto.news
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