Bitcoin Pinned Near Critical Support as Hottest PPI in 3 Years Deepens Rate Hike Fears!

Bitcoin briefly slipped below $80,000 after April core PPI jumped 1% month-over-month — the steepest reading since March 2022 — reigniting fears that the Fed has little room to cut rates and adding fresh pressure to risk assets already trading near key technical levels.

Analysts say the next directional move hinges on two catalysts: Trump-Xi summit talks in Beijing, which could shift the macro mood if trade tensions ease, and Thursday's Senate Banking Committee session on the Clarity Act, where any regulatory clarity on digital assets could provide a floor — or a fresh excuse to sell.

Until one of those catalysts resolves, bitcoin looks range-bound and vulnerable, with the $80,000 level acting as the line traders are watching most closely.