Bitcoin Slips to $77,614 Two-Week Low in Suspected Bear Trap

Bitcoin fell to $77,614 on May 16, its lowest level since May 1, after opening near $81,700 on May 11. Hotter-than-expected U.S. inflation data, including April CPI at 3.8% YoY and core PPI surging 5.2% YoY, drove Treasury yields to 4.58% and triggered repeated breaks below $80,000 with over $280 million in liquidations. Short-covering rallies briefly reclaimed $81,000-$82,000, but persistent geopolitical tensions and profit-taking ultimately pushed prices lower, leaving analysts viewing the move as a potential bear trap.