Bitcoin (BTC) saw a short-term gain of approximately 4%, potentially boosted by lower-than-expected US January Consumer Price Index (CPI), with BTC/USD briefly touching $68,855 on Bitstamp. Official data showed that January's core CPI was in line with expectations at 2.5%, while the overall CPI was 2.4%, lower than the market expectation of 2.5%. Trading analysts pointed out that this is the lowest level of core CPI in many years, and market expectations for further interest rate cuts by the Federal Reserve have rebounded somewhat. However, CME FedWatch data shows that the probability of a 0.25% rate cut at the March meeting remains less than 10%. From a technical perspective, Bitcoin still faces pressure in the $68,000-$69,000 range, which contains the 2021 all-time high and the 200-week EMA. Analysts believe that BTC is likely to form a higher low here; although fragile in the short term, market momentum may gradually recover. In other markets, gold attempted to reclaim the $5,000 per ounce level, the dollar index (DXY) rebounded slightly, while US stocks closed slightly lower. (Cointelegraph)