After the release of U.S. inflation data that exceeded expectations, risk assets generally came under pressure, and the crypto market also weakened accordingly. The total market value fell to $2.71 trillion, with a 24-hour decline of about 3%. Compared to most mainstream tokens, Bitcoin performed relatively stably, and there was an increase in the tendency for funds to seek safe havens.

Major currencies show divergence

Bitcoin traded at $77,285.98, down about 3% for the day. Ethereum fell to $2,438.53. XRP dropped to $1.36, and Solana rebounded to $100, with declines ranging from 3% to 5%. Zcash, HYPE, and DOGE saw even larger declines, all exceeding 7%.

From the market perspective, the selling pressure is mainly concentrated on altcoins. Although Bitcoin also fell, the range of fluctuations was relatively limited, indicating that as macroeconomic uncertainties increase, some funds continue to flow towards highly liquid assets.

The United States PPI exceeded expectations.

The direct factor that triggered this round of decline is that the U.S. Producer Price Index (PPI) exceeded market expectations. The data shows that the U.S. PPI was at 5.4%, higher than the expected level of 5.3%, and also the highest reading in nearly two months.

After the release of this data, concerns about inflation stickiness in the market intensified. The article states that, in addition to crypto assets, gold and silver also saw a significant decline within an hour of the data release, indicating that this round of adjustments is not a mere crypto-related event, but rather a broader revaluation of risk assets.

Raising interest rates continues to put pressure on oil prices

In addition to the U.S. inflation data, the European Central Bank raised interest rates by 25 basis points to 2.65% on that day, reaching a level not seen in 18 months. A higher interest rate environment typically suppresses the valuation of high-risk assets and further exacerbates market concerns about tightening liquidity.

Meanwhile, oil prices have risen again. Reports citing market sources indicate that oil prices have surpassed $99 per barrel, with Brent crude reaching above $101, largely erasing the previous decline caused by news of a peace agreement between the United States and Iran. Trump subsequently stated that the United States is not seeking to reach a new agreement with Iran and that it is unlikely for oil prices to fall significantly before the mid-term elections.

Under the combined influence of multiple macroeconomic factors, market sentiment in the short term has clearly weakened. The current market situation indicates that Bitcoin's resilience to declines is still stronger than that of most mainstream altcoins, reflecting a tendency for funds to prefer holding assets with greater liquidity and higher consensus during periods of increased volatility.