US Inflation Fuels Uncertainty in Crypto Markets

Hot US Producer Price Index (PPI) data has sparked concerns about potential changes to Federal Reserve policy and its impact on cryptocurrencies. The PPI jumped 0.9% month-on-month in July, marking the biggest monthly increase since early 2022, and year-over-year growth reached 3.3%, the fastest pace in over two years. This surge indicates persistent price pressures across the economy, potentially leading to higher borrowing costs and tighter financial conditions.