The cryptocurrency market experienced mild consolidation with downward pressure in the past 24 hours with hotter-than-expected U.S. Producer Price Index (PPI) data—rising 6.0% YoY against forecasts of around 4.9%—rekindled inflation fears, boosted rate-hike expectations, and triggered over $400 million in liquidations. 

The total crypto market capitalization dipped to $2.66 trillion, down roughly 1% in the period, while trading volumes remained solid amid macro uncertainty. Despite the short-term volatility, regulatory optimism and institutional developments provided underlying support. 

Market Overview

Bitcoin faced renewed pressure following the release of stronger-than-expected U.S. PPI…