Bitcoin Slips Below $80K as Inflation Fears Mount
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Bitcoin has extended its decline below the $80,000 threshold, pressured by hotter-than-expected US Producer Price Index (PPI) data that hit its highest level since 2022. The inflation reading compounds existing macroeconomic headwinds stemming from geopolitical tensions, including the US-Iran conflict and elevated oil prices. The market is now pricing in a more aggressive Federal Reserve stance, which could further dampen risk appetite. Technical indicators suggest Bitcoin is testing key support near $79,000, with a breakdown potentially accelerating selling pressure. However, some analysts see this as a buying opportunity if the broader narrative of digital gold resilience holds amid fiat currency concerns.
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