Reasons for Bitcoin's plummet last night
1. PPI data exceeded expectations, leading to a decreased probability of interest rate cuts in September
2. The number of unemployment claims in the U.S. was lower than expected, leaning towards a bearish outlook
3. U.S. stocks opened lower, causing the crypto market to follow suit
4. U.S. spot ETF saw a net outflow of $293 million, ending a previous streak of six consecutive days of net inflow
5. After Bitcoin reached an all-time high, profit-takers cashed out, leading to a sell-off
