Bitcoin surpasses $101k again. What developments supported the price?
The release of the US Consumer Price Index (CPI) data in line with expectations has sparked a fresh wave of recovery in the crypto markets. The expectation of the Federal Reserve cutting interest rates by 25 basis points next week has created a positive mood among investors.
After falling to $94,100 at the beginning of the week, Bitcoin has recovered and surpassed the $101,000 level once again. Bitcoin has gained more than 6% in the past 24 hours, continuing to lead the crypto market as a whole.
XRP and AI Tokens Drive the Rally
XRP gained 15% in the last few hours after Ripple’s RLUSD received regulatory approval. This reinforces XRP’s strong performance in the digital market.
AI tokens have also shown a significant increase. Reports that Apple is developing an AI chip with Broadcom have caused tokens like NEAR Protocol (NEAR), Internet Computer (ICP), and RENDER (RENDER) to surge by more than 15%.
The Federal Reserve and US data are also effective in restoring the markets.
Expectations that the Federal Reserve will cut interest rates have supported the flow of liquidity and paved the way for many digital assets, including Bitcoin, to rise again.
While Bitcoin's rally from this week's lows is boosting investor confidence, the positive sentiment in the market could continue in the coming days.
