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.
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