Bitcoin price holds strong above recent lows and here’s why

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A stock market recovery, investors' anticipation of upcoming US inflation data and risks to the US dollar dominance are fuelling Bitcoin’s recent price gains.

Bitcoin experienced a 7% drop between Sept. 5 and Sept. 7, but it managed to maintain a daily closing price near $54,000 and later recovered some of its losses, reaching $55,300. This movement mirrored the price action in global stock markets, but several factors, including anticipated inflation data and growing risks to the dominance of the United States dollar, can help explain the rise in Bitcoin’s price.

Mixed expectations for Bitcoin’s price based on US inflation numbers


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