Crypto Markets Gain as U.S. Dollar Drops, Wholesale Inflation Cools

Crypto markets rose on Friday following the release of better-than-expected Producer Price Index (PPI) data, which signaled that inflation may be easing.

Bitcoin (BTC) is up 4% over the past 24 hours and is currently changing hands at around $82,500. Ethereum (ETH) also rose 4% to $1,561, while XRP increased by 3.1% to $2. Solana (SOL) surged 10% to $120.

Meanwhile, the broader cryptocurrency market capitalization gained 2% to $2.69 trillion, according to CoinGecko. In the past 24 hours, 92,771 traders were liquidated, with total liquidations amounting to $222 million. BTC led with $79 million, and ETH followed with $47 million, according to CoinGlass.

Experts attribute the gains to several factors, including recent macroeconomic data and President Donald Trump's 90-day pause on tariffs, which have boosted investor sentiment.

PPI Data

Producer prices fell more than expected in March, with the PPI down 0.4% month-over-month and core PPI dropping 0.1%—its first decline since July—both below forecasts. On an annual basis, inflation also cooled, as headline and core PPI rose 2.7% and 3.3%, respectively.

The cooler-than-expected PPI, combined with Thursday’s Consumer Price Index (CPI) report—which also pointed to cooling inflation—suggests that price pressures across the U.S. economy may be easing, according to Anthony Anzalone, CEO and founder of XION.

“However, markets should approach this positive inflation news with caution, as the recently implemented tariffs on April 2nd could potentially reverse this trend,” Anzalone told The Defiant. He added that it’s difficult to draw any conclusions on the market's reactions to the PPI news “given other turbulent factors in the market related to recent tariff developments.”

BTC and ETH Spot ETFs

In the exchange-traded fund (ETF) space, U.S. BTC spot ETFs recorded $150 million in outflows, marking the sixth consecutive day of outflows per SoSoValue data.

Fidelity’s FBTC led the pack with $74.6 million in redemptions. Grayscale’s GBTC followed with $44.6 million, while funds from Ark and 21Shares, Bitwise, Invesco, and Franklin Templeton also posted losses.

Meanwhile, ETH spot ETFs experienced $39 million in outflows. Fidelity’s FETH fund experienced the largest outflows with $36 million.