Bitcoin Drops Below $77K
Bitcoin dropped sharply after the release of fresh U.S. producer inflation data. According to CryptoPotato, BTC lost around $1,000 within minutes following the PPI report and moved below $77,000. The producer price index increased 0.4% for the month, while the annual figure reached 5.4%, remaining well above the Federal Reserve’s 2% inflation target. Higher inflation could complicate the Fed’s upcoming rate decisions and keep investors cautious toward risk assets. Bitcoin had already fallen from around $80,400 to $78,400 ahead of the key economic releases. The next major event is the U.S. consumer inflation report, followed by the Federal Reserve meeting on September 15–16. For exchange users, the current environment means BTC prices may change rapidly. Check the latest Bitcoin rate and exchange conditions on xbit.money before making a transaction.