Bitcoin price just lost $80k because US PPI hit 6% matching 2022 levels, stoking inflation fears

Bitcoin just fell below $80,000 as a hotter-than-expected US inflation print pushed crypto and equities lower.

Bitcoin price feels hot inflation impact

BTC price slipped from the low $81,000 area into $79,706, with the session low marked near $79,557. The break turned $80,000 from a round-number reference into the first tactical line for intraday structure.

Bitcoin price decline alongside rising US Treasury yields, oil prices, and US dollar index

The move followed the April US Producer Price Index. Final demand PPI rose 1.4% month over month, far above the 0.5% consensus and the prior 0.7% reading.

The annual rate accelerated to 6.0% from 4.3%, above the 4.9% consensus. Core PPI rose 1.0% month over month against expectations for 0.3%, while core PPI year over year moved to 5.2% from 4.0%.

Trading Economics data also shows the narrower measure excluding food, energy, and trade services also firmed, rising 0.6% month over month and 4.4% year over year.

PPI data (source: Tradingeconomics)

The PPI surprise followed yesterday’s CPI report, in which headline consumer inflation accelerated to 4.8% year over year from the prior 3.3% reading, above expectations of 4.5%.

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That mix changes the market’s inflation map. A broad upside miss in producer prices pressures the Fed's path because it feeds directly into the cost pipeline and parts of the PCE calculation. It also reduces room for a benign rate reaction when energy is rising at the same time.

The cross-asset response clearly showed the repricing. SPY sold off from above $740 to $737, with a lower wick extending toward $735.48. Long-end rates moved higher, with the 30-year Treasury yield around 5.034% and the 10-year yield around 4.471%. The US Dollar Index held near 98.49, while WTI crude traded around $102.15.

Bitcoin’s immediate price issue is acceptance below $80,000. A quick reclaim would narrow the damage to an event-driven flush. Continued trade below that level leaves the $79,557 low exposed and makes every failed bounce into the prior support zone a test of seller control.

Markets attempted a modest stabilization after the initial post-PPI selloff, but the rebound remained fragile. Bitcoin briefly recovered from the $79,557 low, rising toward $79,700, while SPY bounced off the $735 area and Treasury yields pulled back slightly from session highs.

However, renewed buying in crude and a firm US dollar are still keeping broader macro pressure elevated, leaving cross-asset price action reactive rather than decisively recovered.

The next signal is simple: BTC needs to recover $80,000 while SPY stabilizes and yields stop rising. Until that sequence appears, the PPI shock remains the active driver, and Bitcoin’s intraday structure stays broken.

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