7/103 sources · 3 publishersUpdated Oct 15, 16:39 UTC
Bitcoin falls below $80,000 after hotter-than-expected September producer inflation
September US producer inflation reached 6.3% against a 5.3% expectation, while core PPI was 5.0% versus 4.4% expected. Bitcoin fell below $80,000, declined as much as 1.8%, and later rebounded to around $81,000. The move followed the largest monthly PPI increase since March 2022 and renewed focus on potential support near $78,000.
Why it matters
The inflation surprise can increase expected-rate pressure, which mechanically weighs on non-yielding Bitcoin and other risk assets. Rekt Capital said Bitcoin could retest its 21-week and 50-week exponential moving averages while preserving its broader bullish trend.
Key facts
- 1September PPI rose to 6.3% from a market expectation of 5.3%, the largest monthly increase since March 2022. tradingview.com
- 2Core PPI reached 5.0% against an expected 4.4%. tradingview.com
- 3Bitcoin fell as much as 1.8% before recovering to around $81,000. tradingview.com
- 4Rekt Capital identified potential support at $76,144 and $78.459 from Bitcoin’s 21-week and 50-week exponential moving averages. tradingview.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.