Bitcoin was designed as a hedge against inflation, but every hot inflation report in the past year has knocked its price lower, and Thursday's data was no different. The Producer Price Index rose 1. 1% in May, lifting the annual increase to 6.
Source: [CryptoSlate](https://cryptoslate.com/wholesale-inflation-is-back-in-focus-heres-what-ppi-means-for-your-money-and-bitcoin/)