From Financial Modeling Prep: 2025-01-14 05:17:35

Bitcoin rebounded to $95,374.2 after hitting a low of $89,664.8, driven by dip buyers. Caution prevails ahead of the U.S. CPI release, which could impact the Federal Reserve’s interest rate policy.

Market sensitivity to inflation data is high, with a strong CPI reading potentially strengthening the dollar and reducing liquidity, putting pressure on cryptocurrencies.

Bitcoin’s recovery follows a robust December jobs report, with traders positioning ahead of key economic data amidst reassessments of rate cut expectations.

Tether, the largest stablecoin issuer, announced its move to El Salvador to align with the country’s crypto-friendly stance and stablecoin benefits for transactions.

El Salvador’s leadership in crypto, being the first to adopt Bitcoin as legal tender, positions it as a global hub for crypto adoption and regulatory clarity.

Bitcoin’s near-term direction hinges on U.S. CPI data and potential volatility from any surprise inflation spikes, with long-term support from El Salvador’s efforts to attract crypto businesses.

For in-depth insights on cryptocurrency market trends, the Cryptocurrency API offers real-time data for tracking movements and developments in the market.



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