Yesterday, the US announced that the Producer Price Index (PPI) was higher than market expectations, causing the US stock market to close lower across the board. Bitcoin also gradually declined after reaching a high of 73,777, while Ether fell below 4,000. Recently, the probability of approving an Ethereum spot ETF in May has been lowered by analysts, resulting in a weaker trend for ETH. On the other hand, Bitcoin has been oscillating at high levels but lacks stronger upward catalysts. Analysts predict that the price will temporarily pull back.
"Surpassing expectations, US PPI leads to temporary Bitcoin drop below $70,000"