Crypto Prices Dip as Inflation Surges, Market Wavers

The prediction market Myriad has shifted its outlook on a potential “crypto spring. ” Earlier in the day, participants set the chance of a rally at more than 62 %. By evening, that figure fell below 50 % as the market adjusted to recent price moves. Myriad’s rules require at least four of five targets to be met by May 31 for the “Yes” outcome. The benchmarks are Bitcoin at $80, 500, Ethereum at $2, 400, Solana at $100, Binance Coin at $750, and HYPE at $35. Since HYPE already cleared its target, traders are now betting on whether three of the remaining four can hit their goals.Bitcoin slipped to $71, 610, a drop of 3. 8 % according to CoinGecko. Ethereum fell by 5. 5 %, Solana by 4. 8 % and Binance Coin by 3. 2 %. These declines followed the release of the Producer Price Index (PPI), a wholesale inflation gauge that showed a 3. 4 % year‑on‑year rise—higher than the 2. 9 % forecast by economists. The higher PPI points to rising energy costs, which could prompt the Federal Reserve to keep interest rates elevated. Analyst Carlos Guzman of GSR Research warned that such a stance would hurt risk‑seeking assets like cryptocurrencies, as investors typically move away from high‑yield alternatives when rates climb. The market’s reaction underscores how macroeconomic data can quickly reshape expectations for the crypto sector, even when the assets themselves are not yet near their target levels.