Today's price of bitcoin surpasses $100,000

Today's price of bitcoin surpasses $100,000 as rate-cut bets remain active due to CPI data.

Today’s price of bitcoin surpasses Investing.com— As risk appetite was bolstered by in-line U.S. consumer inflation statistics, which kept investors primarily betting on a December interest rate cut, Bitcoin increased on Thursday, continuing its overnight rebound.

The biggest cryptocurrency in the world has already recovered all of its losses from the previous week and also seems to have broken out of the recent trading range of $90,000 to $100,000. Today’s price of bitcoin surpasses $100,000

Bitcoin reached $100,875.9 at 00:47 ET (05:47 GMT), up 3.5% already. Today’s price of bitcoin surpasses $100,000

Although most altcoins saw far larger gains as risk appetite increased, broader cryptocurrency values also rose in tandem with Bitcoin. The majority of significant cryptocurrencies held steady gains over the last week due to the possibility of more lenient U.S. crypto laws under a Donald Trump administration. Today’s price of bitcoin surpasses $100,000

Dec rate cut bets are solidified by CPI data.

Following the release of consumer price index inflation data that was consistent with forecasts, investors were observed increasing their bets that the Federal Reserve will lower interest rates by 25 basis points the following week. Today’s price of bitcoin surpasses $100,000

The reading continued to indicate that inflation was sticky, casting doubt on the rates’ long-term trend. Today’s price of bitcoin surpasses $100,000

However, the expectation of lower short-term rates increased risk appetite, and Wall Street indices rose to all-time highs during overnight trading. Today’s price of bitcoin surpasses $100,000

For speculative assets like cryptocurrency, lower rates are encouraging. Today’s price of bitcoin surpasses $100,000

Microsoft shareholders reject the idea to invest in Bitcoin.

This week, a request to examine adding Bitcoin to the balance sheet was rejected by the shareholders of Microsoft Corporation (NASDAQ:MSFT), a major player in the technology industry. Today’s price of bitcoin surpasses $100,000

The National Center for Public Policy Research, a think organization, made the idea, urging the IT giant to look about investing in Bitcoin because it was a reliable inflation hedge. Today’s price of bitcoin surpasses $100,000

However, the plan was turned down by shareholders, and the board of Microsoft also suggested against approving it. Although it does think about investing in cryptocurrency, the corporation has previously indicated that it prefers less volatile assets.

Michael Saylor, the CEO of MSTR, made remarks that did little to persuade shareholders that Microsoft should embrace Bitcoin. Microstrategy’s stock increased 450% this year as a result of Saylor’s bitcoin investment strategy.

Today's cryptocurrency price: Altcoins rise alongside Bitcoin

Bitcoin and other cryptocurrency values mostly recovered together, recovering all of their losses from the previous week.

Ether, the second-ranked cryptocurrency in the world, increased 6.9% to $3,911.99, while XRP made 4.1% to $2.4225.

While Dogecoin added 6.4% among meme tokens, Cardano, Solana, and Polygon all saw increases of 5% to 15%. Today’s price of bitcoin surpasses $100,000

Frequently asked question

Why did Bitcoin surpass the $100,000 mark?

Bitcoin crossed the $100,000 mark due to increased risk appetite among investors following U.S. consumer inflation data, which supported expectations of a December interest rate cut. This news boosted the broader cryptocurrency market as well.

How have other cryptocurrencies performed alongside Bitcoin's rise?

Altcoins also saw significant gains. Ether rose by 6.9% to $3,911.99, XRP gained 4.1%, and meme tokens like Dogecoin increased by 6.4%. Other tokens such as Cardano, Solana, and Polygon saw growth ranging from 5% to 15%.

What role does the CPI data play in Bitcoin's price movement?

The CPI data, which met forecasts, increased investor bets on a Federal Reserve rate cut in December. Lower interest rates are generally favorable for speculative assets like cryptocurrencies, driving Bitcoin and other crypto prices higher.

Did Microsoft decide to invest in Bitcoin?

No, Microsoft shareholders rejected a proposal to invest in Bitcoin as an inflation hedge. The board also advised against the plan, favoring less volatile assets. However, the company remains open to considering cryptocurrency investments in the future.

What are the potential implications of a rate cut for cryptocurrencies?

A Federal Reserve rate cut could lower borrowing costs, boosting market liquidity and risk appetite. This would likely benefit speculative assets like Bitcoin and other cryptocurrencies, as evidenced by recent market trends.