Bitcoin Rebounds Above $110,000 as CPI Data Fuels Market Volatility

Last week witnessed a turbulent period for Bitcoin, experiencing a sharp decline before rebounding to regain the crucial $110,000 mark. While initial declines saw BTC drop below $104,500, it eventually recovered and reached new highs of over $111,000 before retracing sharply. This volatility was followed by a brief spike following the release of lower-than-anticipated CPI data, which propelled Bitcoin to near $112,000 but was ultimately halted. However, the market is showing signs of renewed momentum with a 5.7% increase in the past week and continued positive movement from other cryptocurrencies like DOGE, SOL, LINK, HYPE, and BCH. The total crypto market cap has also recovered by $200 billion to reach $3.850 trillion on CG.