Geopolitical Tensions and Macro Factors

Bitcoin briefly plunged below $79,000 for the first time since May 4 as investors digested the latest producer price index (PPI) data, which showed a sharp acceleration in wholesale inflation. According to the cryptocurrency’s daily price chart, bitcoin was coasting above $81,000 before tumbling to an intraday low of $78,704.

Although the cryptocurrency had recovered and was trading just over $79,000 at…