Bitcoin hovers near $48K ahead of fresh key US inflation data
Bitcoin (BTC) recovered above $48,000 on Dec. 10 after another fall took BTC/USD to lows of $47,350 overnight.
Data from Cointelegraph Markets Pro and TradingView showed the pair orbiting $48,300 at the time of writing as markets braced for November's Consumer Price Index (CPI) readout.
As Cointelegraph reported, economists tip this month's year-on-year inflation data to beat October at 6.7%.
While last month's shock CPI news fuelled an uptick across Bitcoin and cryptoassets, caution among analysts prevailed ahead of Friday's figures.
"At this point I think the CPI data is moot. Markets have priced it in unless it's to the extreme end," popular trader Pentoshi argued on Twitter.
He added that the "real" potential market mover from the macro side
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