Bitcoin held at $96,000 as of January 14, boosted by positive US Producer Price Index (PPI) data which came in below expectations. This relief in inflation data, noted for being the highest since February 2023, supported both Bitcoin and stock market gains. However, experts remain cautious, indicating that the upcoming Consumer Price Index (CPI) would play a crucial role in future market movements. Trading firm QCP Capital warned that markets might need to adjust to a potentially hawkish Federal Reserve stance and hinted at surprises in upcoming data releases. Traders have shown a mixed sentiment regarding Bitcoin's price trajectory, especially after briefly falling below $90,000. Some traders perceive the current market positioning as underweight, while others are optimistic about a rebound, suggesting that an upward movement could be validated if Bitcoin hits certain price targets. Overall, the market is navigating inflation concerns while trying to gauge the impact of forthcoming macroeconomic indicators.

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