Bitcoin pinned near critical support as hot PPI spike compounds rate hike fears: analysts
60-second summary
Bitcoin hovers near critical support around $80,000 as hot April core PPI surges 1% MoM, its hottest reading since 2022, fueling rate hike fears. Analysts warn this could lead to increased selling pressure, exacerbating the decline of crypto ETFs, which have already begun to bleed value, further weighing on the market.
Bitcoin floats around $80,000 after April core PPI surges 1% MoM — hottest since 2022 — as crypto ETFs bleed and rate-hike odds climb.