Bitcoin falls on US PPI overshoot as 30-year bond yield hits new 19-year high

Bitcoin (BTC) dipped below $77,000 around Thursday’s Wall Street open as risk assets faced resurgent macro headwinds.Key points:Bitcoin saw downside on the back of higher-than-expected US PPI inflation data, which hit 5.4% in August.Middle East strikes sent WTI crude oil over $100 per barrel for the first time since May.The US 30-year bond yield shrugged off a $6 billion buyback operation to hit its highest level since June 2007.US bond yields surge despite $6 billion interventionData from TradingView showed BTC/USD on track for 2% losses on the day, following weakness in US equities.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewOngoing escalation in the Middle East fueled a fresh surge in oil prices, with WTI crude passing $100 per barrel for the first time since May 21. Brent crude passed $105 per barrel on the day, nearing a new 16-week high.CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingViewAgainst a backdrop of increasing inflation due to higher oil prices, markets also faced a fresh breakout in long-dated US bond yields. These came despite the Treasury executing the first of its stepped-up debt buyback operations and repurchasing $6 billion worth...