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via CoinDesk · By CoinDesk Staff
Why is bitcoin down today: Hotter-than-expected inflation data knocks BTC below $80,000
BTC
BTC/USDT
$63,222.03
+0.17%
$63,222.03
+0.17%
(24s)24h Volume
$2,802,322,151.82
24h H/L
$63,390.00 / $62,968.45
Change: $421.55 (0.67%)
Long/Short
68.8%
Long: 68.8%Short: 31.2%
Funding Rate
+0.0039%
Longs pay
Data provided by COINOTAG DATALive data
CS
CoinDesk Staff(01:12 PM UTC)
1 min read
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…
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