Bitcoin price rose 3% in the last 24 hours, reclaiming territories above $83,700 after forming a local bottom around $76,000 on Tuesday. Early market signals after the latest United States (US) Consumer Price Index (CPI) data suggest the latest BTC upside momentum could linger.
Bitcoin price rebounded as high as $83,500 on Wednesday, up 7% from the seven-month low of around $76,000 recorded on Monday.
A technical analysis pattern hinting at bull reversal has appeared on Bitcoin’s (BTC) daily price chart as market participants look to Wednesday’s U.S. inflation data to put a floor under risk assets.
