Bitcoin (BTC) has surged above $55,000, recovering from a dip below $54,000 caused by a weak August jobs report. This report indicated ongoing recession risks in the US economy.
In tandem with Bitcoin's price increase, crypto stocks have also seen a significant rebound. Meanwhile, the US stock market experienced a loss exceeding $1.05 trillion last week.
Nvidia, a notable player in the tech sector, has also shared in this recovery, aligning with the overall positive trend in the crypto market ahead of the US Consumer Price Index (CPI) report.
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