Bitcoin dips to $77.1k as PPI data boosts Fed rate hike bets, oil prices jump

Bitcoin fell to $77,100 as producer price index data increased market expectations that the Federal Reserve could raise interest rates, according to Investing.com Australia. The move came alongside a jump in oil prices, underscoring renewed pressure across markets sensitive to inflation and monetary-policy expectations.

The producer price index, or PPI, tracks changes in prices received by producers for goods and services. Higher-than-expected inflation indicators can lead investors to reassess the likely path of U.S. interest rates. The Federal Reserve’s rate decisions matter globally because they influence borrowing costs, liquidity and appetite for higher-risk assets.

Bitcoin is the largest cryptocurrency by market value and is widely traded around the clock. Its price can react sharply to shifts in macroeconomic data and changes in expectations for U.S. monetary policy. The reported decline to $77,100 followed the PPI-driven increase in rate-hike bets, while oil’s rise added to the market focus on inflation-related developments.