Bitcoin regains $100,000 price level as Fed rate cut expectations rise

Bitcoin (Bitcoin) Skip briefly Threshold of $101,000 After a 3% rise in the hours following November’s CPI numbers, which came within expectations of 2.7%.

The rise has boosted investor confidence 98% probability It is now earmarked for a 25 basis point rate cut by the Fed next week, which could take the US benchmark interest rate to 4.33%.

As of press time, Bitcoin was trading at $100,215 after bears failed to sustain a bounce below the six-figure level, based on… Cryptocellite Data.

Bitcoin’s latest gains come after a 10% correction from a record high of $103,918.67 on December 5. During the pullback, the market experienced two flash crashes, with Bitcoin briefly falling to $90,200 before recovering.

Despite the fluctuations, Cryptoquant CEO Ki Young Joo believes that Bitcoin corrections in this bull cycle may remain limited, driven by growing demand from exchange-traded funds (ETFs) and unprecedented levels of institutional accumulation.

The broader market rises

The broader cryptocurrency market also rose with Bitcoin amid growing expectations of interest rate cuts.

based on Cryptocellite Data, Ethereum (Ethereum) increased by 7.5% during the past 24 hours, exceeding $3,800, while XRP It rose 20% over the same period to $2.42.

Solana (Sol), Cardano (Ada), you can see (TRX), and avalanche (fax) also recorded double-digit price increases – rising by 11%, 16%, 10.6% and 13%, respectively. At the same time, (but) returned to the top 20 cryptocurrencies by market cap after a 20% rise to $4.25.

According to Artemis DataThe average cryptocurrency market gain over the past 24 hours was 7.8%. Tokens related to centralized exchanges had the best average daily performance, with a 17% rise.

Meanwhile, native tokens for bridges, such as LayerZero (Visit) and the wormhole (W) by 10% on average. In addition, NOne of the 22 sectors tracked by Artemis performed negatively in the past 24 hours.

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