Bitcoin Surpasses $100,000 as Inflation Continues to Ease

Bitcoin has recorded an impressive increase over the past 24 hours, officially surpassing the $100,000 mark. This increase comes after the Bureau of Labor Statistics released new inflation data, which showed that consumer prices rose as expected in December, while core inflation continues to decline.

The last major obstacle for the market - persistent inflation - has now been overcome. With signs of stable inflation easing, this is the information the market has long been waiting for to confidently break through the main resistance level of $100,000 for Bitcoin.

Going forward, analysts believe that Bitcoin will continue to grow strongly. Crypto Analyst Dan emphasizes that the bullish market still maintains positive momentum.

Short-term SOPR data shows a correction, reflecting profit-taking from large whales - a factor that often extends corrections. However, the profit-taking volume this time is much lower compared to March, indicating that this correction is likely to be shorter and less impactful.

Read more: Thailand Approaching Agreement for Bitcoin ETF

In December, when the US Federal Reserve hinted at slowing down interest rate cuts this year, the price of Bitcoin fell from its peak at $108,000. Signs of US economic strength triggered inflation concerns, causing Bitcoin to fall below $90,000 on Monday. However, with the emergence of positive macroeconomic news, Bitcoin quickly recovered and continued its current upward trend.