Topic: cpi

Bitcoin inches up BTC traders flip bullish on the back of positive CPI data

Bitcoin inches up as BTC traders flip bullish on the back of positive CPI data

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Bitcoin resumed its uptrend nearing $47,000, as bullish daytraders swapped the US dollar for the cryptocurrency en-masse. Buyers assessed the diminishing rate of consumer price rise in the United States and Bitcoin’s oversold conditions to place long bids on the BTC/USD pair. As a result, prices rose 6% from $44,154 to $46,823 on Tuesday.

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