Bitcoin rebounds to $93.5K after CPI release, reversing Monday’s dip

Bitcoin rebounded sharply to over $93,500 on Tuesday, recovering from a dip to $90,000 on Monday, driven by the latest US inflation data and shifting political sentiment. The Consumer Price Index (CPI) report showed a 2.7% year-over-year rise in December, aligning with forecasts and bolstering confidence that the Federal Reserve will maintain current interest rates in its upcoming January meeting. This positive reaction suggests Bitcoin is regaining traction as a hedge against macro and political uncertainty, especially after initial market jitters following news of Fed Chair Jerome Powell being subpoenaed. Major cryptocurrencies like Ether, Solana, and XRP also saw gains, while Monero (XMR) notably hit a new all-time high near $700, marking a 50% increase over the week.

(Source：Crypto Briefing)