Bitcoin (BTC) experienced a sudden drop to around $61,000 on May 14 as US inflation data was released. The Producer Price Index (PPI) for April matched expectations at 2.2%, marking the third consecutive monthly increase. The ongoing rise in PPI inflation, a sign that the Federal Reserve cannot cut rates, has led to uncertainty over how the Fed might approach reducing interest rates. Amid this uncertainty, Bitcoin traders are indecisive, with the cryptocurrency's price moves remaining rangebound. However, popular trader Jelle has identified three conditions for a BTC price increase, including retesting the 100-day exponential moving average as support.