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Bitcoin rebounded nearly 4% on Friday, snapping a four-day losing streak as cooling U.S. inflation data boosted investor sentiment. The world’s largest cryptocurrency climbed 3.7% to $68,776.1 by 17:15 ET (22:15 GMT), after briefly sliding toward $65,000 in the previous session.
Despite the recovery, Bitcoin remains on track for a fourth consecutive weekly decline, down roughly 0.6% for the week and struggling to regain sustained bullish momentum after pulling back from support near $60,000.
Crypto markets faced pressure earlier in the week amid a broader tech stock sell-off. Concerns about artificial intelligence disrupting traditional sectors, including software and office services, fueled risk aversion across global markets. Investors stayed cautious as automation and AI-driven tools raised questions about long-term business models and revenue growth, weighing on high-risk assets like cryptocurrencies.
Sentiment improved after the latest U.S. Consumer Price Index (CPI) report. Data from the U.S. Bureau of Labor Statistics showed headline inflation eased to 2.4% year-over-year in January, down from 2.7% in December. Core CPI, excluding food and energy, rose 2.5% annually, matching forecasts.
On a monthly basis, headline CPI increased 0.2%, while core CPI gained 0.3%. The softer headline inflation reading strengthened expectations that the Federal Reserve could consider easing monetary policy later this year, providing short-term support for Bitcoin and the broader crypto market.
Separately, the U.S. Commodity Futures Trading Commission (CFTC) appointed top crypto executives, including Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Robinhood CEO Vladimir Tenev, and Uniswap Labs CEO Hayden Adams, to its new Innovation Advisory Committee. The panel will advise on blockchain, artificial intelligence, and digital asset regulation, underscoring the CFTC’s growing role in crypto oversight.
Altcoins also posted strong gains, reflecting renewed risk appetite across the cryptocurrency market. Ethereum rose 5.4% to $2,049.07, XRP advanced 2.8% to $1.40, Solana surged 8.3%, Cardano climbed 4.1%, and Dogecoin added 4.7%.
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