
Bitcoin slips below $80K as US PPI posts biggest jump since 2022
- —September PPI rose 6.3% year-over-year, the largest gain since 2022; core PPI hit 5% vs 4.4% expected
- —BTC dropped as much as 1.8% to its lowest since Sept. 18 before rebounding to around $81,000
- —The 10-year Treasury yield fell almost 3% despite the hot inflation data
- —South Korea's KOSPI slid 7.5% as a tech sell-off added pressure on risk assets
Why it matters: Hot inflation data dims hopes for Fed easing; BTC is testing its 21- and 50-week EMAs at $76,144 and $78,459.
Source: The Crypto Updates