Bitcoin Surges Past $69,000 as US Inflation Data Cools

Bitcoin experienced a significant relief rally, climbing above the $69,000 mark following the release of US Consumer Price Index (CPI) data. The latest figures indicated cooling inflation, providing immediate upward momentum for risk assets across the board. This price action has sparked optimism among technical analysts regarding a potential "higher low" formation for the leading cryptocurrency. However, despite the softer-than-expected inflation print, market expectations for an immediate Federal Reserve interest rate cut remain subdued. The broader macroeconomic outlook continues to be constrained by the Fed's steady stance on monetary policy, which may cap long-term gains. Consequently, investors remain cautious about whether this momentum can be sustained without a fundamental shift in rate expectations.