India, March 14 -- Cryptocurrencies slipped below the flatline after Bitcoin touched a fresh all-time-high of $73.7k earlier in the trade. Bitcoin also slipped around two percent from the new peak amidst fears of a weakening of the bullish momentum. Fading hopes of an immediate rate cut also weighed on sentiment.
The price movement comes amidst two key macro-economic data releases from the U.S. Producer Price Inflation increased 0.6 percent month-over-month in February, whereas markets had expected it to be steady at 0.3 percent. Meanwhile retail sales in the U.S. increased 0.6 percent month-over-month in February, whereas markets had expected a 0.8 percent rebound from the 1.1 percent fall in January.
The spike in producer price inflatio...