Bitcoin is currently trading above $97K, marking a strong recovery after the sharp dip experienced over the past few days. The rebound can be attributed to better-than-expected Producer Price Index (PPI) data, which brought renewed optimism to the market. However, all eyes are now on today’s Consumer Price Index (CPI) release, which could bring fresh volatility and potentially shift the market’s direction.
Altcoins are also staging a recovery alongside Bitcoin, with AI-focused tokens leading the charge and posting the highest percentage gains among the major sectors. As the market digests upcoming macroeconomic data, investors would do well to tread cautiously.