Bitcoin showcased resilience on Tuesday as its price rebounded to around $95,500, following a dip below the $90,000 mark the previous day. This recovery comes despite significant market volatility, with over $734 million in total liquidations recorded at the start of the week, including more than $152 million in Bitcoin liquidations alone.
In tandem with Bitcoin's recovery, the EUR/USD currency pair traded with marked gains on Tuesday. The pair briefly surpassed the 1.0300 hurdle, fueled by a weaker U.S. Dollar, commonly referred to as the Greenback. Analysts attributed this movement to rising caution among investors ahead of the U.S. Consumer Price Index (CPI) readings, scheduled for release on Wednesday.
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Investor sentiment remains cautious as market participants brace for the impending U.S. CPI data. This key economic indicator is anticipated to provide further insights into inflationary trends and potentially influence market directions in the coming days.