Analysis: Stronger-than-expected US PPI data may pose a downside risk to Bitcoin.

PANews reported on February 27th that, according to Cointelegraph, the US January Producer Price Index (PPI) data exceeded expectations, rising 0.5% month-on-month (expected 0.3%), while the core PPI rose 0.8% month-on-month (expected 0.3%). Affected by this, Bitcoin prices came under pressure and fell, with intraday losses approaching 3%, currently hovering around $66,178. Market expectations for a Fed rate cut in March have fallen below 4%. Meanwhile, safe-haven assets performed strongly, with gold breaking through $5,200 per ounce, reaching a new high since late January; silver rebounded to $92, its highest level since January 30th. Traders and analysts warned that Bitcoin could repeat last month's performance, when BTC/USD briefly fell to a 15-month low of $59,000. Data shows that Bitcoin has fallen nearly 17% so far this month, facing its fifth consecutive monthly decline, the first time since 2018.