The Reasons for Bitcoin's Plunge Last Night
1. PPI data exceeded expectations, leading to a lower probability of interest rate cuts in September.
2. The number of unemployment claims in the U.S. was lower than expected, leaning towards bearish.
3. U.S. stocks opened lower, causing the crypto market to drop as well.
4. A net outflow of $293 million from the U.S. spot ETF ended six consecutive days of net inflows.
