Bitcoin Drops Below $80,000 as September US Wholesale Inflation Surges to 6.3%

Bitcoin briefly slipped under the $80,000 threshold, touching its lowest level since September 18, pressured by higher-than-expected US wholesale inflation. The US Bureau of Labor Statistics reported headline Producer Price Index surged 1.3% month-over-month and 6.3% year-over-year in September, exceeding forecasts and marking the largest monthly gain since March 2022. Earlier, Bitcoin retreated below its 50-day moving average near $81,500 following the release alongside a 0.8% rise in retail sales. The inflationary prints heightened concerns over Federal Reserve monetary policy, impacting cryptocurrencies and risk assets broadly.