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Bitcoin price cements 96,782 USD as crucial US PPI data boosts stocks

Bitcoin rebounded significantly, climbing to 96,782 USD as recent US macroeconomic data offered encouraging inflation signals. With December’s Producer Price Index lower than expected at a month-over-month increase of only 0.2%, risk assets, including Bitcoin, gained momentum.

Traders maintain cautious positions amidst market volatility, hinting at uncertainty. However, Optimism exists for a rebound, with market analysts watching for crucial inflation data from the Consumer Price Index. This data is expected to further shape Bitcoin’s price trajectory.

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