Bitcoin fell to ~$80,559 (-2%+ over 24 hours) after PPI at 6.3% YoY and core PPI at 0.7% MoM — more than double forecast — yet the 10-year fell 8bps to 5.08%, gold rose ~1%, and the dollar slipped. That configuration prices a growth problem, not a rate problem: markets are treating hotter input costs as something that will squeeze activity rather than something the Fed will chase. Bitcoin’s decline sits alongside copper (-1%, extending Wednesday’s -1.6%), Nasdaq futures lower, risk currencies down — a single driver across asset classes, not a crypto-specific move. October hike odds sat at 29% before the release, having already retreated from a post-CPI peak near 47% — the direction of travel through the week has been away from a hike even as inflation data came in progressively hotter. 10x Research: prefer holding Bitcoin while the unwind plays out, but only above $78,000 (~3.2% below current levels); use $AAPLB ETH as a hedge against BTC longs.$BTC $ETH
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