Bitcoin (BTC) sought higher levels around the April 11 Wall Street open as the week's final US inflation data gave bulls hope.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $83,245 as US Producer Price Index (PPI) data came in below expectations.

Bitcoin (BTC) sought higher levels around the April 11 US stock market open as the week’s final US inflation data gave bulls hope.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewAnalyst: PPI undershoot ‘great’ for US trade warData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $83,245 by the time of writing as US Producer Price Index (PPI) data came in below expectations.The Index rose by 2.7% versus the anticipated 3.3%, while the core PPI print also surprised to the downside.An official news release from the US Bureau of Labor Statistics (BLS) added:US PPI for final demand. Source: BLSReacting, trading resource The Kobeissi Letter was among those noting the rapid pace at which US inflation appeared to be slowing. “We just saw the first month-over-month decline in PPI inflation, down -0.4%, since March 2024,” it told followers in part of a post on X. S&P 500 4-hour chart. Source: Cointelegraph/TradingViewRisk-asset performance, however, failed to reflect the notionally positive inflation developments. The S&P 500 was 0.2% lower on the day, while the Nasdaq Composite index was flat.As Cointelegraph reported, after stocks fell precipitously the day prior despite bullish inflation numbers, commentators explained that macro data was helping to fuel the ongoing US trade war.Continuing, crypto trader, analyst and entrepreneur Michaël van de Poppe saw a repeat playing out post-PPI. “PPI comes in significantly lower. That’s great for Trump and his strategy,” he argued, referring to trade tariffs implemented by US President Donald Trump. Bitcoin gets key bullish dollar triggerAnother macro development failing to provide its standard risk-asset tailwind came in the form of multiyear lows in US dollar strength.Related: Bollinger Bands creator says Bitcoin forming ‘classic’ floor near $80KThe US Dollar Index (DXY), which measures the dollar against a basket of US trading partner currencies, fell below the psychological 100 mark for the first time since 2022.US dollar index (DXY) 1-week chart. Source: Cointelegraph/TradingView

As Cointelegraph reported, long-term lows on DXY have historically sparked a delayed BTC price bull run. “Traditionally, DXY going down is very bullish for $BTC, we now have a massive bearish divergence for DXY, which may suggest it goes to 90,” popular crypto analyst Venturefounder observed in part of an X post on the topic this week.US Dollar Index (DXY) vs. BTC/USD chart with RSI data. Source: Venturefounder/XAn accompanying chart examined relative strength index (RSI) data for the DXY monthly chart, showing it retesting a downward-sloping trend line as support from above.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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