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Bitcoin Price Dips Below $27K After Relief Rally on Lower CPI Data

On Thursday, the global digital asset market saw red indexes after a relief rally due to lower CPI data. Bitcoin, the world's largest crypto, experienced major volatility as its price dropped below $27k after trading above $28.2k. Despite a marginal decline over the past day, Bitcoin saw a slight recovery to regain the crucial $27k and is currently trading at an average price of $27,414 with a 24-hour trading volume of around $21 billion. However, Bitcoin's dominance has decreased by 0.07% over the past 24 hours and its price is down by more than 7% over the past 7 days.

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