Bitcoin has seen some relief in the past couple of days with a 4.5% profit in 24-hours. The first crypto by market cap trades at $42,947, after climbing back from the lows at around $39,000.
BTC trends to the upside in the 1-hour chart. Source: BTCUSD Tradingview
Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K
The recent bullish price action comes at the heels of the most recent Consumer Price Index (CPI) report published in the U.S.; the metric has become one of the top issues for investors around the world. Used to measure inflation in U.S. dollars, the CPI printed a 7% for December 2021.
The metric recorded a percentage below investors’ expectations and was mostly one