Bitcoin (BTC) market analysis shows a complex picture with cautious sentiment but potential for recovery.
Current Price Movement: Bitcoin's price recently managed to rise above US$70,000, recovering from a sharp decline to nearly US$60,000 earlier this month. This increase was driven by investors' reaction to US inflation figures that were lower than expected. Nevertheless, BTC faced pressure and traded around US$67,500 after the release of stronger-than-expected US employment data, which reduced the likelihood of an interest rate cut in the near future. Currently, market data shows BTC price around $69734.91, with an increase of +0.94% in the last 24 hours. #BTC $BTC
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