Bitcoin hovered near $100,000 after notching its biggest gain of the new year on reassuring US inflation data that lifted global markets by reviving bets on further Federal Reserve interest-rate cuts.

The price of Bitcoin dipped to $92,700 as a stronger-than-expected labor market reading contributed to investors' inflation jitters.

The fall comes after the cryptocurrency experienced a meteoric rise, fueled in part by the reelection of Donald Trump.

Inflation fears are eating away at Bitcoin’s post-election gains, and consumer prices rose a greater-than-expected pace in December.

Fartcoin (FARTCOIN) led the highest gains over the past week among the largest 100 crypto assets by market cap. The Solana-based meme coin rallied 69.4% over the last 7 days to $1.42 at press time while its market cap has jumped to $1.41 billion.

On Friday, the price of Bitcoin (BTC) hit the $102,000 mark, increasing by 8.4% on the weekly chart. The ongoing positive sentiment surrounding Bitcoin is largely fueled by hype around Donald Trump’s inauguration on January 20.

Bitcoin (BTC) continues its recovery, trading above $97,000 on Wednesday after retesting its key psychological level at $90,000 earlier this week. The upcoming US Consumer Price Index (CPI) data release could bring volatility to Bitcoin, and traders should watch for it.

Crypto markets stumbled with bitcoin (BTC) losing the $100,000 level on Tuesday U.S. morning as two stronger-than-expected U.S. economic data

Bitcoin ( BTC) held $96,000 at the Jan. 14 Wall Street open as US macro data boosted a price comeback. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD extending gains, which began hours after the pair hit two-month lows the day prior.

Crypto prices are stuck in a tug of war between investors' concerns about rising inflation under the incoming administration of Donald Trump and optimism over the president-elect'

Bitcoin-Nasdaq correlation reached its highest level in two years, as the release of US inflation data bolstered digital asset performance. Bitcoin and US tech stocks now have a 30-day correlation coefficient of 0.70.