Bitcoin's price has sharply rebounded, surpassing $99,000, following the release of the US Consumer Price Index (CPI) data, which showed a 2.9% increase in inflation. The inflation uptick has affected both traditional markets and the crypto market, with investor optimism driving Bitcoin's ascent. Analysts are monitoring the Federal Reserve's potential response to the inflation figures, and there is speculation that the central bank may maintain current interest rates for now. Market experts are watching the US Dollar Index (DXY) for signals that could drive further rallies in Bitcoin and altcoins. While there were concerns about a potential market correction, Bitcoin has shown strength and is on an upward trend, approaching a critical resistance level at $100,757. Fibonacci retracement levels indicate possible upside targets, and the Directional Movement Index (DMI) supports a bullish sentiment.



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