price Bitcoin The value of the dollar surpassed $100,000 on Wednesday, surpassing the psychological mark for the second time since the Federal Reserve's hawkish outlook put pressure on risk assets.

When the US central bank He pointed out In December that it would cut interest rates at a slower pace this year, Bitcoin fell from its record levels Peak price More than $108,000. As concerns about inflation were exacerbated by signs of strength in the US economy, the price of Bitcoin fell Less than $90,000 on monday.

Show A approximately 4% Gains over the past day, Bitcoin is trading at $100,444as of this writing. Wednesday's jump came on the heels of a new snapshot of inflation from the Bureau of Labor Statistics, which showed that consumer prices rose as expected in December, while consumer prices rose as expected in December. Core inflation fell.

“The last potential hurdle for the markets – persistent inflation – has now been cleared,” said Matt Mina, crypto research strategist at 21Shares. Decryption. “With inflation showing steady signs of slowing, this was the last piece of news the market had been waiting for before confidently breaking the critical $100,000 resistance level for Bitcoin.”

As the price of Bitcoin rises, altcoins like XRP have made significant gains. The price of the cryptocurrency linked to Ripple has risen 11% over the past day, as of this writing - the barrel has passed its December peak of $2.82 And only the peak One cent shy of $3 Earlier on Wednesday.

At the same time, the price of Ethereum rose Nearly 8% over the past day, as it rose to $3,460. Dogecoin and Solana slightly outpaced these gains, which swelled to approx $0.38 and $203respectively.

Wednesday's inflation reading calmed fears that the Federal Reserve may not cut interest rates at all in 2025, amid recent data that the US economy remains strong - and potential shifts in the US economy. Immigration and trade policy Under Trump, this could also put upward pressure on prices.

The price of Bitcoin surpassed $100,000 for the first time ever in early December. The rise is likely due to a number of factors, including: Increasing adoption Of spot bitcoin ETFs in the US, he won the election a Crypto-friendly TrumpAnd maybe even Return From "McRib Season."

Inflation fears may have put Bitcoin's post-election gains at risk, but cryptocurrency markets' attention is likely to shift toward President-elect Donald Trump ahead of his inauguration.

The Republican is scheduled to take control of the White House next Monday, and is scheduled to issue executive orders related to cryptocurrencies on his first day. This will likely include the establishment of a Presidential Cryptocurrency Council, among other thingsThere are regulatory initiatives, Decryption I mentioned Monday.

Modified by Andrew Hayward