Bitcoin Price Surprisingly Strong As Hot US Inflation Data Throws Fed Rate Cut Story Into Doubt – Where Next for BTC?
Bitcoin price surged despite higher inflation data, impacting US bond yields and dollar. Traders reduced Fed rate cut bets due to strong US economic data. Factors supporting Bitcoin include diminishing Grayscale BTC Trust selling and upcoming halving. Long-term, rising US deficit, halving, and ETF approval could boost Bitcoin prices. Fed rate cuts may lead to Bitcoin price increase. Uncertain short-term impacts of halving, but long-term outlook is positive with potential for $100,000 price target.
