Unfortunately the PPI data came out negative, that's probably why price droped a little in the morning before the data was out, maybe they knew and withdrawn

But CPI carries much more importance than the PPI, I'm still optimistic about it and here is why,

First, Oil prices droped globally from the start of April as in the blue graph, however gasoline in the US only decreased by the end of the month as in the magenta graph as it's lagging so the decrease in PPI will be much more appealing next month (13th of June). Also car prices are not included in the PPI report.

With that, CPI includes new and used vehicle prices which both decreased in April (-ve).

Also, there are rumers that the BLS will remove coffee from the index to artificially lower inflation, but even without that inflation is expected to decrease slightly.

With that, and if we see increased jobless claims next day, it will lead to a surge in BTC prices, let's hope for it so that we finally exit this consolidation phase of crypto