Bitcoin's price hovers around $62,000 as the Federal Reserve tightens its monetary policy and inflation data looms. Attention remains on the upcoming Consumer Price Index (CPI) report, which could influence market sentiment.

**Market Update: Wednesday**Bitcoin continued its ascent on Wednesday, trading at $61,949, up 0.65%. The Federal Reserve's hawkish stance on interest rates cast a shadow over its price outlook, as concerns over inflation and higher borrowing costs dampened investor sentiment towards cryptocurrencies.The recent Producer Price Index (PPI) report, which met expectations, further solidified the expectation of prolonged high interest rates. Market participants will closely monitor the upcoming Consumer Price Index (CPI) release for additional insights.The Federal Reserve's hawkish tone and the favorable PPI data have significantly influenced Bitcoin's price trajectory. This stance, coupled with inflationary concerns, has resulted in diminished investor appetite for high-risk assets like cryptocurrencies.**US Economic Data Impacts Bitcoin**Economic data released on Wednesday revealed mixed signals. The Core Consumer Price Index (CPI) rose by 0.3% month-over-month, down from the previous month, while Core Retail Sales grew by 0.2%, significantly lower than the prior 1.1%. These figures suggest a slight cooling of inflation pressures but maintained slightly elevated levels.**El Salvador's Sustainable Bitcoin Mining**El Salvador has garnered attention for its innovative and environmentally friendly approach to Bitcoin mining. Utilizing volcanic geothermal energy, the country has mined approximately 474 bitcoins while consuming just 1.5 megawatts of power from its geothermal power plant. This sustainable model aligns with the government's commitment to responsible energy practices.**Technical Analysis: Bullish Signals for Bitcoin**Technical indicators suggest that the bullish momentum in Bitcoin remains intact. The Relative Strength Index (RSI) stands at 50, indicating balanced momentum, while the 50-day Exponential Moving Average (EMA) provides support at $61,626. The upward trendline around $61,630 further reinforces the bullish outlook.**Presale Opportunity: $99BTC Tokens**A rare presale opportunity allows investors to secure $99BTC tokens at a competitive price of $0.00103 each. These tokens provide access to premium content, exclusive perks, and immediate staking opportunities within the community.