Bitcoin slips under $80K after US PPI gains most in four years
BTC buyers attempted to defend $80,000 support after September US producer inflation overshot expectations by 100 basis points for the largest monthly gain since March 2022
AI summary
Bitcoin fell below $80,000 after US producer price inflation for September came in hotter than expected, with the monthly gain the largest since March 2022 and overshooting forecasts by 100 basis points. The hot PPI reading reinforces expectations that the Federal Reserve will keep interest rates higher for longer, pressuring risk assets including crypto. Traders are watching whether buyers can defend the $80,000 support level, as a sustained break below it could open the door to deeper losses.
