CRYPTO PRICES FALL AFTER U.S. PPI DATA
Cryptos fell after stronger-than-expected U.S. wholesale inflation data reduced hopes for a Fed rate cut in September, FP Markets’ Aaron Hill says. July’s producer price index rose 0.9% vs. a 0.2% forecast, reviving inflation fears and triggering a risk-off mood. Bitcoin slid 3.5% to $118,638 from a record $124,480 overnight, while Ethereum fell 1.9% to $4,634 after hitting $4,788, its highest since Nov. 2021.The copyright of this article belongs to the original author/organization.
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