CoinDesk
Sep 10, 2025
1 0

Bitcoin Surges Past $113,600 Following Softer U.S. PPI Report

A softer-than-expected U.S. PPI led to bitcoin's (BTC) rise past $113,600, confirming a bullish inverse head and shoulders pattern. The key points include:

  • The breakout signals the end of the recent pullback from record highs above $124,000.
  • Using the measured move technique, bitcoin could reach nearly $120,000.
  • The ascending 50-, 100-, and 200-hour simple moving averages support bullish momentum.
  • The daily MACD histogram crossing above zero indicates a positive shift in market sentiment.
  • Potential resistance near the 50-day SMA at $114,700.
  • Recent higher low around $110,000 serves as a critical level for bearish challenges.

BTC's daily chart shows renewed upward price momentum.