Bitcoin Falls Below $80,000 as US Producer Inflation Tops Forecasts
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitcoin slipped below $80,000 after September US producer inflation exceeded expectations by one percentage point, with buyers trying to hold the level.
Bitcoin traded below $80,000 following a stronger-than-expected US producer inflation report for September. Buyers attempted to defend the price level as support.
The Producer Price Index reading came in 100 basis points, or one percentage point, above expectations, according to Cointelegraph.
The monthly increase was the largest since March 2022. The inflation surprise coincided with Bitcoin’s struggle to maintain the $80,000 threshold.
Source: Cointelegraph
