Bitcoin just fell below $118,000 from its new all-time high of $124,000 after the surprising PPI data.$BTC

Expectation was 2.5%, but it came in at 3.3%, which shows that tariffs will increase inflation. Higher inflation means the Fed will hesitate to cut rates, and the market didn’t like this news.

For Bitcoin support is at $117,500;

if it loses support, it might test $110,000.

Resistance is at $124,000.

Tariffs are affecting manufacturing. This could impact CPI next month. Low jobs and high inflation are a problem for the Fed.

Keep an eye on today’s ETF report.