Live markets: Bitcoin dips below $80,000 as producer price inflation surges to 6%

live Updated just now Live markets: Bitcoin dips below $80,000 as producer price inflation surges to 6% U.S. PPI surged well above forecasts in April, reviving concerns that rising oil prices and Iran-related supply risks may feed another inflation wave. By Krisztian Sandor | Edited by Aoyon Ashraf Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Inflation (Markus Winkler/Unsplash) just now · 1:12 PM Krisztian Sandor Share Share this post Copy link X icon X (Twitter) LinkedIn Facebook Email Hotter-than-expected producer price inflation data knocks bitcoin below $80,000 U.S. producer prices for April came in far hotter than expected on Wednesday, complicating the Federal Reserve's path forward to ease monetary policy later this year. The April Producer Price Index rose 1.4% month-over-month, nearly triple economists’ expectations for a 0.5% increase. Annual producer inflation accelerated to 6%, while core PPI excluding food and energy climbed 1% on the month and 5.2% year-over-year, both well above forecasts. The report reinforced that inflation is reaccelerating after Tuesday's consumer price index (CPI) rose 3.8% year-over-year, the hottest inflation reading in almost three years. Bitcoin (BTC), which traded above $81,000 overnight, quickly dropped below the key $80,000 level in the minutes following the release before recovering slightly. The largest cryptocurrency was recently changing hands just above $80,000, down about 0.8% over the past 24 hours. Equity futures held relatively steady ahead of the U.S. open, with Nasdaq 100 futures up 0.2% and S&P 500 futures little changed. The inflation surprise adds another layer of uncertainty for the Fed as policymakers navigate rising energy prices tied to the ongoing Iran conflict and persistent concerns over supply disruptions around the Strait of Hormuz. Higher oil prices risk feeding further into inflation data in the months ahead. The report could also revive discussion of whether the central bank may need to consider additional tightening rather than cuts, even as President Donald Trump continues to pressure the Fed to lower interest rates. That backdrop is especially delicate as Kevin Warsh prepares to take over leadership of the central bank, with investors closely watching how the incoming chair will balance slowing growth risks against resurgent inflation pressures. Latest Crypto News 1 The 2020 signal returns: Why the copper-to-gold breakout could point to bitcoin breakout 55 minutes ago 2 Tokenized Treasuries hit $15 billion as bitcoin stalls, Fed rate-rise concerns build 1 hour ago 3 Bitcoin holds below $81,000 with Trump-Xi talks on the horizon 1 hour ago 4 The $82,000 battle: bitcoin tests key resistance zone to form next major breakout 2 hours ago 5 Charles Schwab begins U.S. rollout of spot crypto trading for retail customers 2 hours ago 6 EToro reiterates commitment to crypto despite falling activity in Q1 3 hours ago 7 XRP tops bitcoin, ether volumes on major South Korean exchanges 6 hours ago 8 Bitcoin back above $81,000 after hot CPI print, BNB, DOGE lead majors gains 8 hours ago 9 Nevada regulators push back after prediction market conference blames them for move 9 hours ago 10 JPMorgan files to launch new tokenized fund as Wall Street tokenization race heats up 15 hours ago Latest Research Owning All Three: Jito’s Stack Play - JTX and the Third Layer Why it matters : Jito owns Solana's MEV stack; JTX adds a trading frontend capturing DEX fees and internalising MEV. Hedges bear, layers upside in bull - if unlocks clear. View Full Report More From Markets The 2020 signal returns: Why the copper-to-gold breakout could point to bitcoin breakout Bitcoin holds below $81,000 with Trump-Xi talks on the horizon The $82,000 battle: bitcoin tests key resistance zone to form next major breakout