[Analyst: ECB Rate Hike Combined with Higher-than-Expected U.S. PPI Data Triggers Bitcoin Sell-Off] CryptoQuant analyst Darkfost stated that the market has encountered two rather unfavorable pieces of news. First, the European Central Bank announced a 25 basis point rate hike. This marks the second rate hike by the ECB this year, aimed at addressing mounting inflationary pressures. Additionally, the newly released U.S. PPI data exceeded expectations. Core PPI rose 4.6% year-over-year (expected 4.5%), while overall PPI increased 5.4% year-over-year (expected 5.1%). These figures have heightened market concerns over escalating inflation, and the market has responded swiftly. This reaction is particularly evident in the Bitcoin futures market: within just one hour, the active sell-off volume on Binance surged to over $1.4 billion.