Bitcoin price just lost $80k because US PPI hit 6% matching 2022 levels, stoking inflation fears
Bitcoin just fell below $80,000 as a hotter-than-expected US inflation print pushed crypto and equities lower. BTC price slipped from the low $81,000 area into $79,706, with the session low marked near $79,557. The break turned $80,000 from a round-number reference into the first tactical line for intraday structure. The move followed the April US […] The po...
Coins in this story
Related stories
Telecom giant KDDI to acquire 14.9% stake in Coincheck Group in $65 million deal
Japanese telecom giant KDDI is acquiring a 14.9% stake in Coincheck Group for $65 million, with closure expected in June. The partnership includes revenue sharing and customer referral agreements to expand crypto access across Japan. KDDI gains board nomination rights, strengthening its Web3 and metaverse strategy following previous crypto wallet initiatives. This signals institutional adoption momentum in Japan's crypto market.
Animoca-backed NUVA connects Figure's $19 billion of tokenized assets to Ethereum
NUVA, an Animoca-backed Ethereum marketplace, now connects Figure's $19 billion in tokenized real-world assets to DeFi. The platform launches with Treasury-linked yield vaults and home equity line of credit tokens, enabling retail investors to access institutional-grade products. Led by ex-BNY executive Anthony Moro, NUVA aims to democratize blockchain asset distribution globally without India-specific focus currently.
Bitcoin pinned near critical support as hot PPI spike compounds rate hike fears: analysts
Bitcoin slipped below $80,000 after April core PPI surged 1% month-over-month, the steepest reading since March 2022, crushing Fed rate-cut expectations. The inflation beat raised rate-hike odds to 30% from 15% weekly. Bitcoin ETF flows turned negative with $233 million in outflows May 12. Analysts see $80,000 as critical support; a break could trigger retests toward $75,000 amid macro headwinds.