Cryptocurrency markets surged higher on Wednesday after two days of digestion Bitcoin Rebound to $100,000 first time ever last week.
The price of the flagship cryptocurrency recently rose 4.8% to $101,052.72, according to Coin Metrics. ether It is also up 4% but has yet to reclaim key resistance at $4,000. this Coin table 20 An index measuring the performance of broader cryptocurrencies rose more than 7%.
US November inflation data drives Bitcoin higher
crypto stocks Coin library and micro strategy rose 5% and 7% respectively.
With the exception of MicroStrategy, the other companies remained in the red for the week.
Cryptocurrencies received an additional boost after the consumer price index for November was released as expected, rising 0.3% from October and 2.7% from the same period last year. Investors are betting that the data will clear the way for another rate cut by the Federal Reserve at its December meeting next week.
investor Bitcoin price expected to continue falling Around the $100,000 level, there is still optimism that its price could double in the coming year. Bernstein predicts that the Bitcoin price will reach a cycle high of $200,000 in 2025. In a 2025 outlook released Wednesday.
Bitcoin’s current record is $103,844.05.
