Bitcoin has staged a significant recovery, pushing its price firmly above the $60,000 threshold in a move that marks its strongest daily performance in three months.
The rally was triggered by the release of US inflation data for June, which showed a notable deceleration in price pressures.
Over the last six months, Bitcoin has shed approximately 33% of its value, facing sustained selling pressure that previously drove it below key support levels near $58,000.
This softer-than-expected inflation print has reduced the immediate urgency for the Federal Reserve to maintain a restrictive monetary stance, providing a tailwind for risk assets including digital currencies.
The rebound comes after a prolonged period of weakness for the world's largest cryptocurrency.
Over the last six months, Bitcoin has shed approximately 33% of its value, facing sustained selling pressure that previously drove it below key support levels near $58,000.
The recent dip tested investor patience and raised concerns about a deeper correction, but the latest macroeconomic data has helped stabilize sentiment.