AsianFin -- Bitcoin hit the $101,000 mark after recording its largest gain of the year, buoyed by U.S. inflation data that revived optimism for additional Federal Reserve interest-rate cuts and lifted global markets.
As of 9:30 a.m. in New York, the digital asset was trading around $99,300, maintaining most of the over 3% surge triggered by the Bureau of Labor Statistics’ report. The data, showing cooling core consumer prices, also boosted other tokens such as XRP and Solana, which continued their upward momentum.
The inflation report reinforced market expectations for another Fed rate cut by July, providing a boost to stocks and bonds. Attention is now shifting to the policy agenda likely to emerge after President-elect Donald Trump’s inauguration on Jan. 20, including potential measures to support the cryptocurrency sector.
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