Bitcoin has reclaimed the six-figure mark, reaching a price of $100,449.37, with a 6.04% increase in the last 24 hours.¹ This surge is largely attributed to the recent inflation data, which matched expectations and strengthened the likelihood of an interest-rate cut by the Federal Reserve next week.² ³
The inflation data showed that the headline consumer price index (CPI) and core figure came in-line with expectations, which has led to increased optimism in the market. As a result, Bitcoin's price has risen, and it's likely that other cryptocurrencies will follow suit.
This development has significant implications for the cryptocurrency market, particularly for Bitcoin, which has been experiencing a bull run in recent weeks. The potential interest-rate cut by the Federal Reserve could further fuel this rally, making Bitcoin an attractive investment opportunity.
Keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. As always, it's essential to conduct thorough research and consider multiple factors before making any investment decisions.$BNB $SOL $XRP