Bitcoin has bounced back, surging past $100,000 after a shaky start to the week. Analysts are eyeing the $110,000 mark as a potential next target. This rally coincides with the latest US Consumer Price Index report, which indicated a slight rise in inflation. Historically, crypto traders tend to be cautious before such reports and Federal Reserve meetings, but often re-enter the market based on the outcomes.

A key factor in Bitcoin's rise is the return of the Coinbase premium, signaling renewed interest in spot trading. Additionally, futures market liquidations have contributed to the price surge. However, Bitcoin faces resistance around $101,500, and further liquidations could push it closer to its all-time high.