The reasons for the $BTC plunge last night

1. PPI data was higher than expected, leading to a reduced probability of interest rate cuts in September

2. The number of unemployment claims in the U.S. for the week was lower than expected, leaning towards bearish

3. U.S. stocks opened lower, causing the crypto market to follow suit

4. There was a net outflow of $293 million from U.S. spot ETFs, ending a previous streak of six consecutive days of net inflow

5. After Bitcoin reached a historic high, profit-takers liquidated their positions, leading to a market crash ​​​​#美国7月PPI年率高于预期