Bitcoin, Ethereum and XRP slide after U.S. PPI rises 5.4% and rate-hike odds hit 74%
AI Market Summary
U.S. PPI surprised slightly to the upside (5.4% YoY vs 5.3% expected) and core PPI turned positive MoM, reinforcing the view that inflation remains sticky. Rate-hike odds for the next FOMC meeting increased, tightening financial conditions and pressuring risk assets. Crypto sold off immediately, with BTC, ETH and XRP falling, reflecting sensitivity to higher real yields and a firmer USD ahead of the CPI release.
Impact level
● High
Affected assets
BTC/USDT-1.86%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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The U.S. Labor Department reported the Producer Price Index rose 5.4% year over year, slightly above the 5.3% consensus, while core PPI returned to positive growth on a monthly basis. After the release, expectations for another Federal Reserve rate hike strengthened, with the implied probability rising to 74%. Bitcoin fell about 2.7% to $77,300, Ethereum dropped about 2.1% to $2,450, and XRP slid about 3.9% to $1.37.
