Bitcoin’s price experienced a dip of approximately 1.85% over the past 24 hours, following the release of U.S. Producer Price Index (PPI) data that showed an increase to 2.6%. This development has fueled concerns about inflation and its potential impact on crypto markets. As a result, Bitcoin currently trades at around $107,249.8 USD, with trading volume reaching $52.034 billion. 📈 📊 📈 🌎 🌎 🌎 . 🚨 🚨 🚨 The overall altcoin market also witnessed similar price fluctuations, highlighting a broader bearish sentiment in the crypto landscape. 📉 📉 📉 However, experts note that an increase in PPI data suggests a strong possibility of the Federal Reserve pausing its rate hikes. This, in turn, could signal positive long-term bullish action for Bitcoin and altcoins. 📈📈 📊🤔 The CME FedWatch tool reveals potential for three rate cuts out of the remaining five meetings this year. 👀👀👀 🌎 🌎 🌎 . Meanwhile, a key factor to consider is market sentiment, which analysts suggest has shifted towards a more bearish approach. 📉 A closer look at Bitcoin’s technical analysis suggests weak price action indicated by the Volume indicator. 🧐 This metric plays a crucial role in analyzing price trends and predicting potential breakout, breakdown or a trend reversal. The Bear Bull Power (BBP) after its recent surge has shown signs of waning with a fading green histogram and has turned negative recently. This further reinforces the growing bearish influence on the market. 📉 📉 📉 . The chart analysis further reveals key support levels for Bitcoin, ranging from $101,556 to $110,268. These levels offer potential opportunities for a price reversal if a bullish trend emerges in the upcoming weeks. However, as the market enters a period of uncertainty, it’s crucial to remain vigilant and observe the price action closely. 🤔 Will Bitcoin bounce back or continue its downward trajectory? Let’s see how the markets unfold this week! 🤔 🧐 🌎 🌎 🌎