Bitcoin Price Rebounds to $70K as US Inflation Cools, Recovering from $8.7B Liquidation Wipeout

Bitcoin (BTC) has surged back to the $70,000 price level, fueled by the latest U.S. Consumer Price Index (CPI) data indicating cooling inflation. This bullish momentum follows a significant market shakeout that saw over $8.7 billion in leveraged long and short positions liquidated across the crypto market in recent days. The softer inflation report has renewed investor confidence, suggesting a potential shift in Federal Reserve monetary policy that could be favorable for risk assets like cryptocurrency. Analysts highlight that breaking and holding above the $70,000 resistance is a key psychological milestone for BTC. The recovery underscores Bitcoin's volatility but also its resilience amid macroeconomic data shifts, with the market now watching for a sustained push toward new all-time highs.