[LIVE] Crypto News Today: Latest Updates for August 15, 2025 – Crypto Market Slumps on Hot US PPI, XRP Drops 6%, ETH Tests $4.5K
![[LIVE] Crypto News Today: Latest Updates for August 15, 2025 – Crypto Market Slumps on Hot US PPI, XRP Drops 6%, ETH Tests $4.5K](https://static.bitprismia.com/feature-images/cryptonews/17c5e5c43f3711859ba9435707b36557.jpg?x-oss-process=image/resize,m_lfit,w_708,limit_0/quality,q_90/format,webp)
Main Idea
The crypto market experienced broad declines due to hot US PPI data, with major cryptocurrencies like XRP and ETH dropping significantly, while Treasury Secretary Scott Bessent clarified the US government's plans for Bitcoin reserves.
Key Points
1. The crypto market saw broad declines, with meme tokens dropping over 10%, Ethereum falling 2.43%, and Bitcoin dropping 3.85% to below $119,000.
2. XRP traded at $3.12, down 6.4% in the past 24 hours, while SKALE surged nearly 48% as a rare upside mover.
3. Treasury Secretary Scott Bessent clarified that the US will not acquire BTC outright for its Strategic Bitcoin Reserve but will develop a reserve using other methods.
4. Bessent emphasized that the government's Bitcoin plans will be budget-neutral, walking back earlier remarks about not acquiring BTC.
Description
The crypto market saw broad declines over the past 24 hours after US July PPI data came in hotter than expected, dampening hopes for a September rate cut. Meme tokens led the sell-off with an 8.62% drop, as PEPE, SPX6900, and Fartcoin plunged over 10% each. Ethereum fell 2.43%, briefly slipping under $4,500 before rebounding, while Bitcoin dropped 3.85% to below $119,000. XRP is also trading at $3.12, down 6.4% in the past 24 hours. Losses extended across sectors, though SKALE surged nearly 48% ...
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