CoinScoopBitcoin drops below $77,000 as producer inflation data fuels Fed rate hike expectations
Bitcoin fell below $77,000 following the release of producer inflation data that exceeded expectations. August producer prices rose by 5.4%, surpassing the 5.1% forecast, which has strengthened market pricing for potential Federal Reserve interest rate hikes ahead of next week's meeting.
Summaries are written by AI from the original article. Not investment advice.