Bitcoin dips below $77,000 after August PPI surprises to the upside; 30-year yield hits 5.353%
AI Market Summary
Hotter-than-expected August PPI and a surge in the 30-year Treasury yield to 5.353% tightened financial conditions and pushed rate-hike odds higher for the Sept. 16 FOMC meeting. Risk assets reacted with Bitcoin slipping below $77,000 despite Treasury buybacks. WTI above $100 on Middle East strikes adds an inflation impulse, keeping CPI risk elevated into Friday and reinforcing a risk-off bias.
Impact level
● High
Affected assets
BTC/USDT+1.12%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Bitcoin fell below $77,000 after the August Producer Price Index rose 5.4% year over year, 0.1 percentage point above consensus. The 30-year Treasury yield climbed to 5.353%, a level last seen in June 2007, even after the Treasury bought back $6 billion of bonds. WTI crude topped $100 a barrel for the first time since May 21, as Middle East strikes added fresh inflation pressure. CME FedWatch put the odds of a 25-basis-point hike at the Sept. 16 meeting at 69.8%, up from 61.2% a day earlier. Investors now turn to Friday's CPI release.
