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News has come out that the US CPI index has recently increased by 0.3%, and the market has reacted accordingly, causing Bitcoin to surge. It seems that the inflation indicator came in lower than expected, which gives the impression that the cryptocurrency market has regained some vitality.
Currently, Bitcoin is trading around $71,650, and it appears that buying interest has entered after the CPI index announcement. Weak inflation data reduces the likelihood of the Federal Reserve raising interest rates, which is positive for risk assets like cryptocurrencies.
Whenever these macro signals continue to emerge, the market reacts sensitively, and the reason why economic indicators like the CPI index are so important is precisely because of this. It seems necessary to keep an eye on such data in the future.