Bitcoin Slips Below $80,000 as US Wholesale Inflation Jumps 6.3% in September

Bitcoin briefly dropped below $80,000 following an unexpected surge in U.S. wholesale inflation that heightened concerns over Federal Reserve monetary policy. The U.S. Producer Price Index rose 1.3% month-over-month in September, its steepest monthly increase since March 2022, pushing annual headline PPI to 6.3%. After failing to clear $84,000 resistance earlier, Bitcoin initially slid over 3.6% to around $81,500 and hit an intraday low of $80,443 before dipping under $80,000. Risk assets broadly retreated as markets weighed the inflationary impact of a 10.8% surge in energy commodities alongside resilient retail sales.