Bitcoin and Ethereum Prices Decline as PPI Surge Dims Hopes for Substantial Rate Cut

Bitcoin and Ethereum experienced a noticeable decline in price, triggered by an unforeseen rise in the Producer Price Index (PPI), which undermined expectations for a significant interest rate reduction by the Federal Reserve. The robust economic data sparked worries about persistent inflation, prompting investors to reassess their outlook regarding future monetary policy. This shift in sentiment generated selling pressure in the cryptocurrency markets, as traders sought to diminish their exposure to riskier assets. Furthermore, concerns surrounding the regulatory landscape affecting cryptocurrencies contributed to amplified market uncertainty. Analysts are closely monitoring both economic and regulatory developments for signals regarding the future direction of Bitcoin and Ethereum prices.