Bitcoin Dips Amid Anticipation for Inflation Data and ECB Rate Decision

Bitcoin's price has dipped ahead of key economic indicators set to be released in the coming days. The U.S. producer price index data is due on Thursday at 1230 GMT, followed by the consumer price index data on Friday. These releases could provide insight into the Federal Reserve's interest rate decision next week.

According to LSEG data, investors are pricing in a 59% probability of a Fed rate increase next week. The European Central Bank (ECB) is also set to make an interest rate decision on Thursday at 1215 GMT, with a 99% possibility of a hike.

The current price of Bitcoin stands at $78,162, down 0.2% from previous levels.