Live markets: Bitcoin dips below $80,000 as producer price inflation surges to 6%

Inflation shock may represent the 'final flush of weak hands'

Matt Mena, senior crypto research strategist at 21Shares, said the inflation data reflects mounting macro pressure, partly tied to the conflict in Iran, but noted that bitcoin’s ability to hold above $80,000 remains an important signal for traders.

Mena said a prolonged break below $80,000 could send bitcoin toward $78,000, with $75,000 becoming the next major support zone if selling intensifies. Still, he argued the latest inflation shock may represent the “final flush of weak hands” before several potential bullish catalysts return to focus.

He added that improving macro conditions tied to President Donald Trump’s upcoming China visit could also help lift sentiment if tensions ease. Mena said bitcoin reclaiming the $82,000 resistance level could open the door to a rally toward $85,000 and potentially $90,000, while leaving a move toward $100,000 “on the table” by the end of the quarter.