Bitcoin experienced a 1.6% increase in value after the release of better-than-expected U.S. Consumer Price Index (CPI) data. This rise in value was accompanied by high trading volume, breaking a four-day slide for the cryptocurrency. Despite wider macroeconomic factors causing uncertainty, Bitcoin has remained steady and even showed signs of being a safe haven during the recent banking crisis. The market is now awaiting the Fed's assessment on June 14, with many hoping for a pause in rate hikes.
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