Bitcoin approached the $100,000 mark, climbing to weekly highs around $99,268 as US macroeconomic data alleviated inflation concerns. The recent Consumer Price Index (CPI) data indicated that inflation, while still a concern, was in line with expectations, boosting market confidence in BTC's potential for recovery. Popular traders noted that the strength of the US dollar was decreasing in tandem with rising risk assets, further supporting Bitcoin's upward trajectory. However, some analysts warned of the possibility of a retest of the $90,000 support level, citing potential volatility ahead of the inauguration of President-elect Donald Trump. With Bollinger Bands indicating reduced volatility, the market may soon see more erratic price movements. Investors are advised to conduct thorough research before making trading decisions amid evolving market conditions.

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