Bitcoin returns above $96,000 in surprising pullback as mild inflation data stokes risk appetite

Bitcoin it rebounded on Tuesday, rising with other risk assets as traders digested the light inflation reading.

The price of the flagship cryptocurrency rose 4% to $96,781.15 on Tuesday, according to Coin Metrics, after slipping below the $90,000 support level to start the week. The broader crypto market, as measured CoinDesk 20 the index added 3.9%.

shares of Coinbase and Microstrategy It has gained more than 3% and 5%, respectively. Mining stocks Mara Holdings and Basic Science They went up about 5%.

The move is reported by the Bureau of Labor Statistics Cooler than expected inflation tuesday The producer price index, which measures wholesale inflation, rose just 0.2% in December, while economists polled by Dow Jones had forecast a 0.4% rise.

It’s crypto prices stuck in a tug Between investor concerns about rising inflation under the incoming administration of Donald Trump and optimism over the president-elect’s pro-crypto leadership, it could have helped the industry significantly this year. As a result, traders are expecting a tougher-than-expected January, which could stretch throughout the quarter.

Bitcoin fell last week after stronger-than-expected payroll numbers sent bond yields soaring, prompting investors to dump growth-oriented risk assets. Headlines about Trump’s tariff plans also spooked investors, boosting the dollar, which has an inverse relationship with bitcoin.

Fundstrat’s Tom Lee told CNBC “Squawk Box” That bitcoin on monday It could target $70,000 before breaking new records and eventually ending the year between $200,000 and $250,000. Crypto traders are used to big declines in bitcoin during a bull market.

Bitcoin is 10% off its record high on December 17th. In 2025 it has grown by 3%.