Price of Bitcoin It added $100,000 on Wednesday, surpassing the psychological mark for the second time since the Federal Reserve's hawkish stance put pressure on riskier assets.
When the US central bank It is marked. In December, Bitcoin fell from it, as it will reduce interest rates at a slower pace this year High price Over $108,000. As the signs of strength in the US economy became a concern of inflation, the price of Bitcoin fell Under $90,000 on Monday.
Demonstrating a About 4% In the previous day's gains, Bitcoin is trading on the upside. $100,444In this article. Wednesday's jump followed new inflation data from the Bureau of Labor Statistics, with consumer prices expected to rise in December. Core inflation fell.
Matt Mena, crypto research strategist at 21Shares, said: “The last obstacle to the markets – persistent inflation – has now been removed.” Decrypt. “With inflation showing steady signs of cooling, this was the last bit of news the market was waiting for before it could confidently break the crucial $100,000 resistance level for Bitcoin.”
As the price of Bitcoin has risen, altcoins like XRP have made huge gains. The value of the cryptocurrency linked to Ripple has increased. 11% The previous day, as of this writing—Berlin surpassed the December high of $$2.82 And just raise A penny shy of a dollar3 Earlier Wednesday.
Meanwhile, the price of Ethereum has increased. About 8% Last day, up. $3,460. Those developments were slightly outpaced by Dogecoin and Solana, which led to a surge $0.38 And $203respectively.
The Fed's inflation rate on Wednesday It has raised concerns that it will not reduce inflation at all by 2025. Immigration and trade policy Under Trump, this could put significant pressure on prices.
In early December, the price of Bitcoin breached $100,000 for the first time. The reason for the high can be due to several reasons, including Growing adoption Spot Bitcoin ETFs in the US, the election victory of a crypto-friendly trumpetAnd maybe even give back “McRib Season”
Inflation fears may have threatened Bitcoin's post-election gains, but crypto markets' attention is likely to turn to the inauguration of President-elect Donald Trump.
The Republican is set to take control of the White House next Monday, and is set to issue crypto-related executive orders on the first day. That would likely include the creation of a President's Crypto Council, with ORegulatory initiative, Decrypt He reported on Monday.
Edited by Andrew Hayward.
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