The United States producer inflation data (PPI) for March officially increased to 4%, recording the highest number since February 2023. Although this figure is slightly below market expectations, inflation pressure is still strong with Core PPI which is held at the level of 3.8%. This macroeconomic condition surprisingly became a positive catalyst for the crypto market, where the price of Bitcoin jumped to $76,000.

This sudden price jump triggered a massive wave of liquidation for traders who took short positions. According to on-chain data, the total liquidation in the entire crypto market reached $444 million in the last 24 hours, with Bitcoin contributing the largest figure of $236 million. The rapid breakout of the $75,000 figure proves that extreme volatility still dominates the movement of digital assets amid the uncertainty of US monetary policy and global geopolitical conditions.