Bitcoin Surges Toward $76,000 as US PPI Data Looms and Oil Trade Speculation Mounts

Bitcoin has surged 4.12% to $74,100 — its highest level in three weeks — amid speculation that Iran may accept Bitcoin for oil shipments through the Strait of Hormuz, a route handling 20% of global oil supply. The move could generate tens of millions of dollars in daily revenue, fueling investor optimism. Ethereum followed suit, climbing above $2,300 as broader crypto sentiment strengthens. Corporate demand remains robust: MicroStrategy bought $1 billion worth of Bitcoin, increasing its total holdings to 780,897 BTC. Circle shares jumped 16% on expectations of advancing stablecoin regulation in the U.S. The market’s next catalyst is the U.S. Producer Price Index data, due April 14, with headline PPI expected to rise to 4.6% year-on-year from 3.4% and core PPI projected at 3.7%. If the data meets or undershoots forecasts, Bitcoin could extend its rally toward $76,000 — approximately Rp1.3 trillion. A hotter print risks stalling the momentum in the short term.