$BTC Breaking: Bitcoin Retraces As US PPI Inflation Soars To 6.5% Ahead FOMC Meeting

The U.S. Producer Price Index jumped 6.5% year-over-year in May, surpassing Wall Street forecasts of 6.4%.

Bitcoin price slipped as markets were shaken by hotter-than-expected inflation data.

Now, the market is eyeing the upcoming FOMC meeting on June 16-17.