Cryptocurrency prices recovered after Monday’s crash and Bitcoin (BTC) rose as high as $97,300 on Tuesday as traders awaited the latest U.S. inflation data with more to come tomorrow.

Yesterday’s drop below $90,000 in the largest cryptocurrency was quickly reversed following reports that Donald Trump is preparing first-day executive orders aimed at benefiting the cryptocurrency industry. The rise continued today, supported by weaker-than-expected US Producer Price Index (PPI) readings for December.

BTC recently changed hands at $96,500, up 3% in the last 24 hours, while the broad market benchmark CoinDesk 20 Index performed better, up 5%. Ripple’s XRP and Dogecoin (DOGE) led the altcoin majors with gains of 6% to 7%.

In traditional markets, the tech-heavy Nasdaq and S&P 500 closed roughly flat.

In detail, Bitcoin is still consolidating sideways above $90,000 as rising bond yields and the US dollar rattled markets around the world in recent weeks. Given the recent release of hot US economic data, market participants have already scaled back their expectations for lower interest rates in the US this year.

Wednesday’s consumer price index (CPI) report could bring another bout of volatility to markets and give traders further clues about the Federal Reserve’s policy path for the year.

Additionally, Trump’s inauguration ceremony, scheduled for January 20, could also move markets as anticipation builds over the new president’s pro-crypto measures.

K33 Research previously predicted that the inauguration could be an opportunistic sell-the-news event given heightened expectations, but the sell-off in stocks and digital assets earlier in the year caused the firm to revise its view.

“Although our monthly outlook favored selling at the inauguration, we would like to reformulate this strategy as selling BTC at the inauguration is significantly less attractive unless the coming six days offer a significant resurgence in momentum,” it said Report. “The S&P 500 closed its post-election gap yesterday and BTC hit 2-month lows.”

“The de-risking would be entirely path dependent on next week’s price action and would be short-lived as we have optimistic long-term expectations of Trump’s influence on BTC,” the authors added.