📉 Crypto Drops After Hot U.S. Inflation Data
The July U.S. Producer Price Index (PPI) came in way hotter than expected, shaking markets and cooling hopes for near-term Fed rate cuts.
🔥 Key Data:
PPI: +0.9% MoM (vs. 0.2% forecast)
PPI YoY: +3.3% (vs. 2.5% forecast)
Core PPI: +0.9% MoM (vs. 0.2% forecast)
💥 Market Impact:
Bitcoin: fell from $124K highs to below $119K
ETH: down nearly 4% to $4,550
SOL & XRP: sharp declines alongside broader altcoin weakness
📊 Why It Matters:
Hotter inflation + tight labor market = higher chance the Fed keeps rates elevated longer. CME FedWatch odds for a September rate cut dropped from 100% → 96%.
⚠️ Risk assets are feeling the pressure — stay nimble.
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