Bitcoin Successfully Recovers the $100,000 Mark in Three Days

This is interpreted as the market reflecting expectations for additional interest rate cuts by the U.S. Federal Reserve (Fed) following the release of the Consumer Price Index (CPI) in the United States.

Bitcoin price recovered the $100,000 mark in three days amid market expectations for additional interest rate cuts by the U.S. Federal Reserve (Fed) following the release of the Consumer Price Index (CPI) in the United States.

According to CoinMarketCap, a global virtual asset market data site, as of 7:30 a.7:30 a.m. on the 12th, Bitcoin is trading at $101,422 (approximately 145.1 million won). This represents a 4.47% increase compared to the previous day. At the same time, Ethereum is trading at $3,827 (approximately 5.47 million won), a 4.69% rise from the previous day.

The recovery of Bitcoin to $100,000 occurred immediately after the U.S. Department of Labor released the November CPI. The November CPI increased by 2.7% compared to November of last year. Excluding the volatile energy and food prices, the core CPI rose by 3.3%. As the November increase aligns with the figures initially expected by experts, there are forecasts on Wall Street that the Fed will lower interest rates. Typically, an interest rate cut increases liquidity in the virtual asset market, serving as a boon for the sector.