✉news BusinessCrypto first seen 2 d ago, last 2 d ago, peak #28
Bitcoin drops 3.6% after hotter-than-expected US inflation data
Original: Bitcoin price drops 3.6% as hot US PPI fuels Fed rate hike concerns
Bitcoin fell 3.6% after fresh US producer price data came in hotter than expected, raising fears that the Federal Reserve could keep interest rates higher for longer. Risky assets like crypto tend to sell off when investors expect tighter monetary policy, and traders are now watching upcoming Fed decisions and inflation readings for direction.
Why now: Hot US PPI data revived concerns about Fed rate hikes, hitting risk assets like bitcoin.
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Rank over time, top of the chart is #1. 2 snapshots from 2 d ago to 2 d ago.
Evidence
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