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

BTC buyers attempted to defend $80,000 support after September US producer inflation overshot expectations by 100 basis points for the largest monthly gain since March 2022

Bitcoin (BTC) dipped below $80,000 on Thursday as US Producer Price Index (PPI) data significantly beat expectations.

Key points:

Data from TradingView showed BTC/USD slipping to its lowest levels since Sept. 18, declining as much as 1.8% on the day, before rebounding to around $81,000.

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