Bitcoin Reclaims $110K Ahead of FOMC Meeting After Bullish CPI Data: Your Weekly Crypto Recap

The events that took place last Friday were quite painful as bitcoin’s price tumbled from over $110,000 to under $104,500 in the span of just a day or so. However, the asset finally found a solid floor at that point and started to recover in the following days.

At first, it returned to $107,000, where it spent most of the weekend trading sideways. The bulls began a more impressive leg up that drove the asset to just over $111,000. It retraced sharply on Tuesday morning but skyrocketed in the evening past $114,000 to set a weekly high. However, this sporadic rally came to a halt almost immediately, and the subsequent rejection was quite violent.