Bitcoin Trades Near $65,700 After U.S. PPI Data Tops Forecasts

Bitcoin (BTC) is trading around $65,700, nearly 48% below its all-time high of $126,000, after the U.S. producer price index (PPI) for January 2026 exceeded forecasts, U.S. Bureau of Labor Statistics data show. Headline PPI rose 0.5% month-over-month versus a 0.3% forecast, while core PPI jumped 0.8%, with annual headline PPI at 2.9% and core wholesale prices at 3.6%. Within 45 minutes of the release, Bitcoin slipped roughly 1% as traders weighed the risk that hotter inflation readings may prompt the Fed to maintain higher interest rates. CME Group commentary notes that a stronger PPI print can shift Fed expectations, potentially tightening financial conditions and adding pressure to crypto prices through rising Treasury yields and a firmer U.S. dollar.