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      Bitcoin Recovers as Oil Prices Decline; US CPI Report Looms

      Bitcoin experienced a rebound following a decline the previous day, which was influenced by a surge in crude oil prices. As oil prices eased during the Asian trading session, many risk assets, including Bitcoin, saw a quick recovery. Despite ongoing geopolitical tensions, particularly the Houthis' attacks on Saudi Arabia and stalled negotiations between the US and Iran, market participants are closely monitoring economic indicators that could impact future price movements.

      The upcoming US Consumer Price Index (CPI) report is anticipated to be a significant catalyst for Bitcoin's performance. A higher-than-expected core inflation figure could lead to a selloff in Bitcoin due to increased expectations of interest rate hikes by the Federal Reserve. Conversely, a softer inflation report might provide a short-term boost to the cryptocurrency market.

      Technical analysis indicates that Bitcoin is currently rebounding from a support level around $81,500. Buyers are expected to continue entering the market at this level, aiming for a rally towards $98,000. However, sellers are poised to capitalize on any break below this support, targeting a drop to $75,000. The market remains in a range-bound state, with key resistance identified at $87,400.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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