Bitcoin's (CRYPTO:BTC) price experienced flash volatility, dropping to around $61,000 as U.S. inflation data arrived, setting the stage for Federal Reserve Chair Jerome Powell's upcoming speech.

While the Producer Price Index (PPI) met expectations, indicating ongoing inflation, traders await Powell's remarks for further market cues.

Amid rangebound price movements, Bitcoin traders eye key technical indicators, with $65,000 identified as a critical level for potential bullish momentum.

Powell's speech and the upcoming Consumer Price Index (CPI) release are anticipated to guide Bitcoin's next move amid market uncertainty.