#BTCReclaims101K Crypto Market Soars, Bitcoin and Friends Return to US$100k
The crypto market soared this morning (12/12/2024) after the US Consumer Price Index (CPI) rose in line with market expectations and projections that the crypto market including Bitcoin would soar next year.
Referring to CoinMarketCap on Thursday (12/12/2024) at 07:44 WIB, the crypto market strengthened. Bitcoin rose 5.11% to US$100,884.79 and was in the positive zone of 2.49% weekly.
Ethereum appreciated 6.56% in the last 24 hours and strengthened 0.51% in the week. XRP strengthened 3.28% daily and increased 1.21% in the last week.
Similarly, Dogecoin rose 6.43% in the last 24 hours while in the last seven days it fell 3.94%.
As reported by CNBC International, cryptocurrencies got an extra boost after the US consumer price index for November 2024 came in line with expectations, with a 0.3% increase from October and a 2.7% increase from a year ago. Investors are betting that this reading will pave the way for the US central bank (The Fed) to cut interest rates again at its upcoming December meeting next week.
