Bitcoin Drops on PPI Data: Is More Downside Ahead?

A hotter-than-expected Producer Price Index (PPI) report for July has sent a ripple of concern through markets. It suggested that inflationary pressures may be more persistent than anticipated and dimming hopes for a series of aggressive interest rate cuts from the Federal Reserve. Bitcoin, which had been rallying on expectations of looser monetary policy, fell sharply in response. Unexpected PPI Jump Sends Bitcoin Prices Lower The July US Producer Price Index (PPI) surged by 0 source: https://beincrypto.com/bitcoin-drops-on-ppi-data-is-more-downside-ahead/