Bitcoin (BTC) rose 0.5% to near $63,900 after the US Producer Price Index (PPI) showed a cooler inflation trend in July, easing expectations of aggressive interest rate hikes from the Federal Reserve.
The dollar-won exchange rate rose in overnight trading, driven by higher-than-expected US May PPI data and a threat of further strikes on Iran by President Trump. However, Trump later canceled the strike and hinted at a deal, suggesting a potential drop in the Seoul market.
Bitcoin (BTC) surged back to $63,000 despite rising US inflation and Iran closing the Strait of Hormuz. Oil prices also rose, with President Trump vowing further action against Iran. Analysts note market uncertainty due to combined geopolitical and energy disruption risks.
Bitcoin price drops below $80,000 following a hotter-than-expected US Producer Price Index (PPI) report, showing a 1.4% month-over-month increase, impacting crypto and equities.
Bitcoin (BTC) fell below $80,000 after the US Producer Price Index (PPI) reached its highest since 2022, increasing odds of further Federal Reserve financial tightening, posing a headwind for crypto and risk assets.
