Gate News message, April 14 — Bitcoin rose above $76,000 on Tuesday after US Producer Price Index data for March 2026 came in below market expectations. The PPI for final demand increased 4% year-over-year, below the consensus estimate of 4.7%. On a monthly basis, producer prices rose 0.5%, also lower than the expected 1.1%.
Core PPI was reported at 3.8%, unchanged from the prior reading and marking the strongest 12-month increase since February 2023. The annual PPI reading was above February’s 3.6%, showing producer inflation moved higher on a yearly basis despite missing forecasts.
Bitcoin has been trading within an ascending range since rebounding from its February low, with support near $68,000 and resistance in the $72,000 to $76,000 area. During Bitcoin’s rise from around $63,000 on February 5 to nearly $73,200 on February 14, the 30-day moving average of open interest at a major CEX fell from $1.9 billion to $1.19 billion, suggesting the rally was driven more by spot buying than new leveraged positions.
Reports that US-Iran negotiation talks may resume also contributed to improved risk sentiment across markets.
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