Inflation Surprise Fuels Risk Rally, But Crypto Stalls at Resistance

Bitcoin briefly broke above $76,000 amid improving macro sentiment but faced technical resistance and gave back gains. U.S. March PPI came in at 4% YoY and +0.5% MoM, below market expectations of 4.6% and +1.2% respectively. Lower-than-expected inflation eased short-term inflation concerns and boosted risk appetite in financial markets. Broad risk appetite recovery pushed U.S. equities and Treasuries higher simultaneously, with the Nasdaq posting a 10-day winning streak—the longest since 2021. Oil prices fell, briefly dropping below $90 per barrel, reflecting reduced geopolitical premium amid renewed U.S.–Iran talks. Bitcoin closed at $74,141.50, down 0.36% on the day, while Ethereum fell 1.96% to $2,322.40. Bitcoin dominance rose to 60%, indicating capital remains concentrated in major assets rather than rotating into altcoins. Crypto markets remain in 'Extreme Fear' with the Fear & Greed Index at 23, up slightly from 21 the previous day.