Live markets: Bitcoin dips below $80,000 as producer price inflation surges to 6%
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- Bitcoin falls below $80,000 as U.S. producer price inflation surges to 6%, increasing macroeconomic pressure on risk assets.
- Matt Mena of 21Shares identifies $78,000 and $75,000 as key support levels if selling intensifies, while viewing the dip as a potential 'final flush of weak hands'.
- Matt Mena suggests a Bitcoin rebound above $82,000 could open a path toward $85,000–$90,000, with $100,000 'on the table' by quarter-end if macro conditions improve.
- Donald Trump's upcoming China visit is cited as a potential catalyst for easing tensions and boosting market sentiment around Bitcoin.
Why it matters: Bitcoin holders face immediate downside risk to $75,000 if macro pressure persists, while a rebound above $82,000 could trigger a rally worth over $20,000 per coin by year-end, depending on geopolitical and policy developments.
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