"Bitcoin (BTC) soared to new highs for the week of July 11 as US macroeconomic data brought unexpectedly positive news. BTC quickly erased losses, reaching $59,516 on Bitstamp after the June US Consumer Price Index (CPI) showed slowing inflation. Despite this, The initial gains turned out to be short-lived, with BTC/USD quickly erasing the $1,000 he initially added. “Time to let the dust settle, but it's safe to say it's much stronger than it was at the start of the month. Recover $60,000 and things will look much better,” concluded popular trader Jelle. 😊