CPI and PPI hit hard from both sides—government bond yields surged to 4.66%, risk assets pulled back first. This round of BTC’s correction is well deserved.

Crypto news, May market correction, Bitcoin price fell below the key cost basis, ultimately closing at about $70,600, down approximately 8% to 10% from the early-month high of $82,839. The report pointed out that April's CPI reached 3.8%, PPI rose to 6.0%, both exceeding expectations, leading investors to reassess interest rate expectations and reduce risk asset exposure. Meanwhile, the 10-year Treasury yield climbed to 4.66%, and the 30-year yield exceeded 5.18%. The report also mentioned that after Bitcoin broke below the $78,200 to $78,300 range, it failed to maintain momentum between $81,000 and $85,000, creating a large number of investors with unrealized losses, increasing the potential for future selling pressure.