Bitcoin climbed above $7-6,000 on April 14 after the Bureau of Labor Statistics reported that March producer prices fell significantly below Wall Street estimates.
The surge follows a sharp reversal from several months of hotter-than-expected wholesale inflation prints. The new data provided a boost to risk assets, pushing the cryptocurrency past a key institutional benchmark.
Headline Producer Price Index (PPI) rose 0.5% for the month, a figure much lower than the 1.1% forecast by analysts. This unexpected cooling suggests easing inflationary pressure within the US economy.
MicroStrategy shares rally alongside BTC
The price movement pushed Bitcoin above the average cost basis for MicroStrategy, which sits near $75,600. The surge in the digital asset's price triggered a corresponding rally in shares of the Bitcoin-heavy firm.
Market participants viewed the PPI miss as a signal that the Federal Reserve may have more flexibility regarding interest rate policy. The lower inflation reading directly impacted sentiment across both crypto and traditional equity markets.
