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Bitcoin is attempting to stabilise after the 5 February capitulation event, which drove the price to a local low of $60,100. The macro backdrop has turned constructive. Headline CPI cooled to below expectations, reinforcing the narrative that disinflation is gaining traction. Treasury yields declined, the dollar softened, and rate markets repriced toward three potential cuts in 2026, with April increasingly favoured for the first move. For non-yielding assets such as Bitcoin, this shift in real yield expectations reduces macro headwinds.