Bitcoin falls as US inflation data and bond yields rise
Bitcoin drops below $77,000 as hotter US PPI stokes inflation fears See how Fed worries, rising yields, and oil spikes are shaking markets
Bitcoin fell below $77,000 after hotterthanexpected US producer price data added to concerns about inflation and Federal Reserve policy.
The move came as US stocks also weakened, while oil prices climbed on renewed Middle East tensions. West Texas Intermediate rose above $100 a barrel for the first time since May, and Brent approached a 16week high.
Longdated US Treasury yields also moved higher despite a $6 billion buyback operation. The 30year yield reached its highest level since 2007, while the 10year yield climbed to its strongest level since late 2023. Markets now face another key inflation report, with the US Consumer Price Index due before the Fed’s next policy meeting.