Bitcoin falls on US PPI overshoot as 30-year bond yield hits new 19-year high
Bitcoin fell with US stocks as high inflation and a further surge in oil prices coincided with another multidecade high for US bond yields.


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Bitcoin fell with US stocks as high inflation and a further surge in oil prices coincided with another multidecade high for US bond yields.

This week's CPI and PPI prints, along with the Fed's Sept. 16 rate decision, could determine whether Bitcoin can secure $80,000 as a support level.

The PPI reading was lower than the 7.4% expected by economists polled by Reuters, and was down from a revised 7.3% seen in June.

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Bitcoin price action fell to week-to-date lows with Bitcoin caught between high US inflation and nerves over Fed policy hints at the day's FOMC meeting.

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Hotter US PPI inflation data boosted precious metals but punished Bitcoin bulls, with BTC price downside nearing 3% on the day.

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The dollar index (DXY00 ) on Thursday rose +0.42% as the strong US PPI report sparked a pull-back in expectations for Fed rate cuts in the coming months. In ad…
The S&P 500 Index ($SPX ) (SPY ) on Thursday rose +0.09%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell -0.02%, and the Nasdaq 100 Index ($IUXX ) (QQQ )…
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The cost of wholesale goods and services - where rising inflation tends to show up first - posted the biggest increase in July in three years, possibly heraldi…
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(RTTNews) - Following the steep drop seen during Wednesday's session, treasuries showed a strong move back to the upside during trading on Thursday.
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