Bitcoin Holds Around $80K as U.S. Inflation Data Pressures Crypto Market
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Bitcoin fell below $80,000 to $79,576.80, down about 1.87% intraday, while total crypto market capitalization dropped 1.92% after fresh US inflation data. Stronger-than-expected CPI and PPI readings lifted Fed rate-hike expectations — Polymarket prices a 40% chance of a hike by October — increasing pressure on crypto and other risk assets.
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- Bitcoin fell below $80K after fresh U.S. inflation data increased Fed rate pressure expectations.
- Polymarket traders now price a 40% chance of a Fed rate hike by the October meeting.
- Total crypto market capitalization dropped 1.92% as inflation concerns pressured risk assets.
Bitcoin traded at $79,576.80 after posting a 1.87% daily decline at the time of writing, following new U.S. inflation data that added fresh pressure across digital asset markets and prompted traders to reassess expectations for Federal Reserve policy.
The latest Producer Price Index (PPI) report followed stronger-than-expected Consumer Price Index (CPI) figures released a day earlier, adding to concerns that inflationary pressure remains high across the U.S. economy.
The combined data contributed to renewed caution across crypto markets as investors monitored the possible impact of higher …
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