Bitcoin is nearing a key resistance level after recovering from last week’s price decline. Currently trading around $106,685, the cryptocurrency has shown strong gains over the past 24 hours, registering a 1.41 percent increase. After briefly dipping to a weekly low of $100,377, Bitcoin has recorded four consecutive days of growth. The crypto previously reached a record high of $106,958 before pausing near $107,000. This level now presents strong resistance that could impact prices soon. Market analysts are anticipating volatility as key inflation reports loom. Wednesday’s consumer price index report and the producer price index report later in the week are expected to significantly influence investor sentiment regarding market direction. Swissblock reports that these reports will likely cause substantial market movements.