Bitcoin slips under $80K after US PPI gains most in four years

Bitcoin's price dipped below the $80,000 level as buyers struggled to defend this support threshold. This decline followed the release of September's US Producer Price Index (PPI) data, which revealed that producer inflation exceeded market expectations by 100 basis points. This marks the largest monthly gain in producer inflation since March 2022, indicating a significant macroeconomic factor influencing Bitcoin's recent price action and contributing to its inability to hold the $80,000 mark.