The US March Producer Price Index (PPI) surged significantly, with month-over-month growth of 0.7%, far exceeding the prior expectation of 0.3%, marking the largest increase since summer of last year. This higher-than-expected inflation data forced the market to reassess, lowering expectations for imminent Federal Reserve rate cuts and pushing up the US dollar exchange rate. Bitcoin, as a barometer of liquidity risk appetite, immediately faced selling pressure, with the $74,000 to $76,000 range currently viewed as strong resistance. This data increases the likelihood of the Federal Reserve adopting a hawkish stance, suggesting that Bitcoin's path back to $100,000 is far from smooth amid persistent inflation concerns.