Crypto markets mixed as PayFi leads sector declines; Bitcoin slips to $77,079

  • Crypto markets moved mixed as stronger U.S. PPI lifted September rate-hike expectations and the ECB delivered a 25-basis-point defensive hike.
  • PayFi fell 4.36%, led by Zcash’s 11.60% decline, while SSI Layer2, SSI DeFi and SSI PayFi dropped 4.23%, 3.21% and 3.08%.
  • Bitcoin was reported at $77,079, down 1.13%, while Ethereum was nearly unchanged at $2,466.79; NEAR and Morpho gained.

Cryptocurrency markets moved mixed on Sept. 11 after stronger-than-expected U.S. August PPI raised market-implied odds of a Federal Reserve rate hike in September to 70%, while the European Central Bank proceeded with a 25-basis-point defensive hike. PayFi led sector losses, falling 4.36%, with Zcash down 11.60%, Dash down 3.83% and XRP down 2.48%. A newer market update put Bitcoin at $77,079, down 1.13%, and Ethereum at $2,466.79, nearly unchanged. NEAR rose 3.48% and Morpho gained 3.73%, while SoSoValue’s historical sector indexes also declined.

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