Bitcoin Price Surges Past $41K Amidst US Macro Data and Fed FOMC Day

Bitcoin's price surpassed $41,000 as it reacted to US macro data ahead of the Federal Reserve's FOMC meeting. The Producer Price Index (PPI) came in below expectations, indicating declining inflation, while the Consumer Price Index (CPI) did not significantly impact risk assets. Traders are closely watching the Fed's decision on interest rate changes, with expectations of no rate adjustments. Bitcoin's price action remained choppy, with $48,000 identified as a key resistance level. Traders anticipate potential volatility around the $40.5K and $41.4K levels.