Bitcoin Slides on Hot PPI as CPI and CLARITY Act Loom Large

Bitcoin dropped to around $76,900 Thursday as a hotter-than-expected U.S. producer price report rattled crypto markets across the board. The August PPI came in at 5.4% year-over-year, pushing long-dated Treasury yields to new multi-decade highs and strengthening the Federal Reserve's case to keep interest rates elevated. Roughly $39.28 million in Bitcoin futures positions were liquidated during the slide, accelerating what began as an orderly pullback into a sharper cascade.

All major tokens felt the pressure. Ethereum fell to $2,437, Solana shed 2.87% to $98.69, and XRP dropped 4.24% to $1.3353. The Rio Times Online noted the selloff was a mechanical reaction to macro conditions rather than any structural crypto event, with hotter producer prices lifting the dollar and weighing on everything priced in it.

CPI Report Threatens to Extend Bitcoin's September Pain

Markets now brace for Friday's Consumer Price Index release, with headline inflation forecast at 3.4% and core CPI expected at 0.2% for the month. Bitcoin is holding the $76,500 to $77,000 support zone heading into the print, but that band is growing increasingly fragile. A stronger-than-expected reading could add further pressure on the Fed ahead of its FOMC decision next Wednesday, where markets already price in nearly a 70% chance of a 25-basis-point rate hike.

Separately, Washington is counting down to its own September deadline. The Senate is scheduled to hold a procedural cloture vote on the CLARITY Act on September 15, a motion that requires 60 votes to clear a filibuster and allow formal floor debate to begin. The House passed the bill by a 294-134 vote in July 2025, but Senate disagreements over ethics rules, DeFi provisions, and regulatory jurisdiction have stalled its progress for months.

The CFTC has already signaled it will propose its own digital-asset market-structure rules if the bill stalls, and industry participants are increasingly resigned that full passage before year-end may be out of reach. Meanwhile, the global crypto market cap sat at $2.7 trillion on September 11, down 1.9% over 24 hours, with Bitcoin dominance holding firm at 57.2%.