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

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Bitcoin slides further while crypto-linked stocks bounce from session lows While crypto prices slid further during the morning session, with bitcoin (BTC) slipping below $79,000, several digital asset-related stocks bounced from their lows by midday. Stablecoin issuer Circle (CRCL) reversed earlier losses to trade nearly 3% higher. Digital broker eToro rebounded 6.8% after yesterday's sell-off on reporting a sharp decline in crypto trading activity in the first quarter. Coinbase (COIN) recovered toward the $201 level, though shares remained down about 3% on the day. Bullish (BLSH), CoinDesk’s parent company, pared its decline to roughly 2.6%. Data center names, many of them former bitcoin miners that pivoted to AI infrastructure, traded higher, including Cipher Mining (CIFR) and Core Scientific (CORZ) Elsewhere, bitcoin treasury firm Strategy (MSTR) traded 2.9% lower, while Ethereum treasury company Bitmine (BMNR) cut its losses to around 1.1%. The stabilization came as markets digested the hotter-than-expected inflation report earlier in the day. The tech-heavy Nasdaq 100 rose 0.5%, while the S&P 500 gained 0.3%. Attention across the crypto industry is increasingly turning toward Washington, D.C., where the Senate Banking Committee is set to hold a markup hearing Thursday on the long-awaited digital asset market structure bill, the Clarity Act. The hearing marks a key step in advancing the legislation toward becoming law.

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