Investing.com– Bitcoin recovered sharply on Tuesday after a muted performance in the last few days, while investors cautiously awaited the U.S. inflation report to gauge the Federal Reserve’s interest rate outlook.
jumped more than 5% to $97,111.0 by 09:47 ET (14:47 GMT).
The token had reached a session low of $89,664.8 on Monday, but dip buyers emerged and pushed prices higher.
Risk sentiment present despite looming CPI data
Crypto traders showed an appetite for risk assets on Tuesday, despite an important U.S. Consumer Price Index (CPI) release a day later.
The Federal Reserve’s hawkish stance in December, signaling fewer interest rate cuts in 2025, has increased market sensitivity to inflation data.
Recent economic indicators, including a robust December jobs report, have led to a reassessment of the likelihood of near-term rate cuts by the…
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