Bitcoin Slips Below $77,000 After US PPI Comes In at 5.4%

Bitcoin lost the $77,000 line on Thursday, 10 September, minutes after the United States published its August producer price index. Annual PPI came in at 5.4%, a tenth of a point above the 5.3% consensus that Coinotag and CryptoBreaking both reported that day. The monthly reading was 0.4%, in line. CryptoPotato, writing at 12:51 UTC, said the print took about $1,000 off the price within minutes. The selling ran further once Wall Street opened.

What the tape actually showed

The Instagram post that brought this story to the desk put the fall at $1,200 and said Bitcoin had dropped below $77,000. The second half checks out against every outlet consulted for this piece. The first half does not line up cleanly with any of them. CryptoPotato's figure was roughly $1,000 in the minutes after the release, and the same piece measured a fall of more than $3,000 from Monday's peak above $80,400. The Crypto Times logged an intraday low of $76,748 against a high of $79,323, a spread of about $2,575. Three outlets, three windows, and no $1,200 among them. The numbers do not reconcile.

The day's percentage change is its own puzzle. The Crypto Times put Bitcoin down roughly 2.4% at around $77,021. Coinotag, publishing at 12:39 UTC, had the price at $77,088 and the daily change at -0.35%. Both cannot be right at the same hour. We could not establish which reference window each outlet used.

The liquidation figure that stayed unconfirmed

The post's second claim is that more than $190 million in long positions were liquidated over the preceding 60 minutes. Long positions are leveraged bets on a higher price, and they are force-closed when the market falls far enough. No outlet published on Thursday carried an hourly tally of that size. The nearest comparable numbers are two days old. Bitcoin.com News counted $264 million of total liquidations on 8 September, of which $187 million sat on the long side, and Coinotag's 9 September count came to $247.68 million over 24 hours with $162.63 million in longs. Both are close to $190 million in magnitude. Neither is an hourly figure, and neither belongs to Thursday's session. The claim stands unverified and is attributed here to the post's author alone. A tally on that scale would still be modest against the sessions when liquidations neared $1.8 billion across a single day.

Why a producer price print moved crypto

Producer prices measure what factories and service firms charge before goods reach shoppers, which makes the index an early read on consumer inflation. A hot number pushes traders toward the view that the Federal Reserve holds policy tight for longer. CME Group's FedWatch tool had the odds of a quarter-point increase at the 16 September meeting at 69.8% by Thursday afternoon, up from 61.2% a day earlier. Coinotag's morning snapshot put the same probability at 62.2%. That gap is timing rather than contradiction. The odds climbed through the session.

Bonds told the same story louder. The 30-year Treasury yield rose to 5.353%, its highest since June 2007.

"the bond market is quite literally fighting the US Treasury," The Kobeissi Letter wrote on X, in a comment carried by CryptoBreaking.

What sits on the calendar next

Consumer price data for August was due on Friday, one day behind the producer figures, and the Fed decides on rates on 16 September. Earlier in the week, when August payrolls landed at 162,000, Bitcoin had already broken below $80,000. Fund flows are pointing the same direction. CoinDesk reported $120 million of outflows from spot Bitcoin exchange-traded funds on Wednesday, a second straight negative day, with the Ark and 21Shares product ARKB accounting for $78 million of that. Whether Friday's inflation reading confirms Thursday's or cuts against it is the next thing this market has to price.