Bitcoin reached a monthly high of $76,038 as US inflation data remained below expectations, boosting risk assets. Despite this surge, traders remain cautious amid ongoing inflation concerns and geopolitical tensions.
Key points
Bitcoin reached $76,038, its highest price since February.
US PPI inflation came in below market expectations.
Traders remain cautious amid inflation and geopolitical tensions.
Market participants are preparing for potential price corrections.
Bitcoin (BTC) reached monthly highs above $76,000 on Tuesday as US inflation data continued to buoy risk assets.
**Key points:**
Bitcoin upside continues as bulls target $76,000 — the highest price since early February.
US PPI inflation remains below market expectations despite the war in Iran having no end in sight.
Bitcoin traders stay risk-off on overall market strength.
Bitcoin tops $76,000 amid fears that “inflation is back”
Data from TradingView showed new local highs of $76,038 on Bitstamp — Bitcoin’s best performance since mid-March and on track to hit a two-month record.
*BTC/USD one-day chart. Source: Cointelegraph/**TradingView*
The March print of the Producer Price Index (PPI) came in below expectations despite the US-Iran war.
“On an unadjusted basis, the index for final demand rose 4.0 percent for the 12 months ended in March, the largest 12-month advance since increasing 4.7 percent in February 2023,” an official statement from the US Bureau of Labor Statistics (BLS) noted.
“The March rise in final demand prices can be attributed to a 1.6-percent advance in the index for final demand goods. Prices for final demand services were unchanged.”
Markets had expected a 4.7% year-on-year increase, with a 1.1% month-on-month jump — but it ultimately came in at 0.5%.
*US PPI one-month % change. Source: BLS*
Despite this, reactions were hawkish, noting that inflation was showing a clear uptrend overall.
“We are now officially seeing inflation metrics in the US that are at 4% or higher,” trading resource The Kobeissi Letter responded on X.
“Inflation is back.”
*Fed target rate probabilities (screenshot). Source: CME Group*
Correspondingly, markets kept bets of interest-rate cuts from the Federal Reserve firmly at the end of next year, per data from CME Group’s .
Q&A
Why did Bitcoin reach $76,000 recently?
Bitcoin hit $76,038 due to favorable US inflation data that exceeded market expectations, encouraging investment in risk assets.
What is the current US PPI inflation rate?
The US Producer Price Index (PPI) inflation rate is reported at 4.0% year-on-year, which is lower than the expected 4.7% increase.
What are the implications of the recent inflation data for Bitcoin?
The tame inflation data may support Bitcoin's price, but ongoing inflation concerns could lead to market volatility and cautious trading.
What could cause Bitcoin to drop below $76,000?
A rejection from the 21-week moving average around $78,300 could trigger a decline in Bitcoin's price, potentially leading to further market corrections.
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$BTC $73,500 - $76,500 liquidity sweep complete ✅$BTC precisely wiped out the largest liquidation cluster zone at $73.5k - $76.5k within hours from this post.
— CryptoReviewing (@CryptoReviewing) April 14, 2026
As Cointelegraph reported, market participants had already been gearing up for a short squeeze, with its price still stuck in its local range.
“Bitcoin's recent PA hasn't deviated much from what we saw in 2022,” Keith Alan, cofounder of trading resource Material Indicators, argued on the day.
“Nothing says that $BTC has to continue to mimic history, but if it does we should see price flirt with the 21-Week Moving Average ~$78.3k.”
*BTC/USD one-week chart. Source: Keith Alan/X*
Alan said that the trend line would “not be an easy level to break.”
“A rejection from that level would send the Weekly RSI back below the R/S flip line at 41, and send BTC to the next leg down,” he warned, referring to the relative strength index (RSI) indicator.
Earlier, Cointelegraph reported on early RSI signals regarding a bear-market trend reversal.
The US passage of the CLARITY Act and the end of the war in Iran, on the other hand, could send Bitcoin back toward its yearly open price of $87,500.
