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The leading cryptocurrency Bitcoin (BTC) and altcoins are facing a new wave of selling.
Bitcoin fell to $81,000, Ethereum (ETH) to around $2,750, while other major altcoins like Solana (SOL), XRP, and BNB also saw declines ranging from 5% to 10%.
The Fed kept interest rates unchanged, as expected, but signals for interest rate cuts are being given for the second half of the year.
While the Fed’s future decisions are eagerly awaited, data on the US Producer Price Index (PPI), one of the indicators the Fed monitors in its decisions, has been released.
The data released is as follows:
Core Producer Price Index (Monthly): Announced 0.7% – Expectation 0.2% – Previous 0.0%
Core Producer Price Index (Annual): Announced 3.3% – Expectation 2.9% – Previous 3.0%
Producer Price Index (Monthly): Announced 0.5% – Expected 0.2% – Previous 0.2%
Producer Price Index (Annual): Announced 3.0% – Expected 2.7% – Previous 3.0%
The Kobeissi Letter stated in its report, “Core PPI inflation is currently at its highest level since July 2025. Producer price index (PPI) inflation is running higher than expected.”
Bitcoin’s initial reaction after the release of the PPI data was as follows:
*This is not investment advice.