Bitcoin surged back above $100,000!Bitcoin experienced a strong rally today, rising 4.5% intraday and breaking through the $100,000 mark
Bitcoin surged back above $100,000!
Bitcoin experienced a strong rally today, rising 4.5% intraday and breaking through the $100,000 mark. Simultaneously, Ethereum performed exceptionally well, surging over 6% and nearing $3800. This latest surge in the cryptocurrency market is primarily attributed to November's CPI data meeting market expectations. Following the data release, market anticipation of a Federal Reserve rate cut in December strengthened, boosting investor confidence and driving significant price increases in Bitcoin and Ethereum.
Notably, the active participation of institutional investors also fueled the market's momentum. According to Lookonchain's monitoring data, 10 Bitcoin ETFs saw net inflows totaling 5,459 Bitcoin, approximately $538 million. This indicates that institutional investors remain confident in Bitcoin's long-term value and maintain a positive outlook on its future prospects.
Whether this rally signals the beginning of a new bull market in the cryptocurrency space remains to be seen. However, this strong rebound has undoubtedly injected positive energy into the market and presented new investment opportunities for investors.
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