Bitcoin Breaks $80K as PPI Stirs Inflation Fears
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Bitcoin tumbled below the $80,000 threshold on Wednesday after the April US Producer Price Index (PPI) surged to 6%, matching levels last seen in 2022. The hotter-than-expected inflation data triggered a broad risk-off move, dragging BTC from the low $81,000s to a session low near $79,557. The break of $80,000 transforms this round number from psychological support into a key tactical resistance for intraday structure.
The PPI print reignites concerns that the Federal Reserve may need to maintain or even tighten monetary policy, weighing on risk assets. Equities also sold off in sympathy. For Bitcoin, the immediate focus shifts to defending the $79,500 area; a sustained breakdown could open the door to further downside toward $78,000. However, the market remains sensitive to any dovish Fed signals that could reverse the current trajectory.
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