Bitcoin Tumbles Below $77K Amid Higher Than Expected Inflation

The Producer Price Index (PPI) report for August showed a 0.4% increase, in line with expectations, but the annual jump was higher than anticipated at 5.4%, pushing Bitcoin below $77K.

The PPI data released on September 10 revealed that excluding volatile sectors like food and energy, the core PPI rose by 0.2%, beating estimates of a 0.3% increase.

This inflation report is significant as it sets the stage for the upcoming Federal Reserve meeting on September 15-16, where the central bank will announce its rate decision.