Bitcoin price closes in on all-time high as traders await key inflation data

Bitcoin has rebounded significantly, increasing by 4.5% since Saturday, and is approaching its all-time high of 122,838 USD set in mid-July. The recent surge in open interest in derivatives suggests an increase in leveraged long positions among traders.

Traders are closely monitoring upcoming inflation data due on Tuesday, which could influence interest rate decisions by the Federal Reserve. Sean Dawson predicts that Bitcoin may reach 150,000 USD by the end of the year based on current market conditions.

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