Crypto markets moved into a broad risk-off phase as Bitcoin and Ethereum declined alongside reduced bullish positioning ahead of U.S. inflation data. Bitcoin fell 1.47% to $77,288.87, while Ethereum slipped 0.56% to $2,465.79. The move followed hotter-than-expected U.S. PPI data, higher Treasury yields, and increased expectations for rate hikes. Bitcoin ETF products recorded a second consecutive net outflow. Ether ETFs attracted nearly $35 million after a previous $24 million outflow.