Bitcoin briefly reached $114,000 after PPI data, sparking speculation on a potential rally extension. Analysts emphasize key support levels at $110,600, $107,500–$106,800, and $104,000–$100,000. BTC may trade between $106,800–$118,300 unless CPI or FOMC surprises. Altcoins could lead a bullish move if inflation remains in line and the Fed stays dovish.

Analyst Kevin advises caution, including profit-taking and risk-managed positions until BTC breaks $120,000–$125,000. PPI data came in cooler than expected, setting a positive tone for the market. Analysts await the CPI release for further market direction. Bitcoin liquidations in the past 24 hours amounted to $37.95 million, with short liquidations at $34.96 million due to sudden price spikes.

Read more at Yahoo Finance: Bitcoin Taps $114,000 Following Producer Price Inflation Data: Can This Rally Continue?