The probability of a 25 basis point rate cut by the Federal Reserve surged to 85% following a slight increase in the core Consumer Price Index (CPI) to 0.3%. This news drove Bitcoin (BTC) prices above $57,000, indicating strong demand and bullish market sentiment.
The latest U.S. CPI data has had a significant impact on Bitcoin's price movements, suggesting a direct correlation between expectations for Federal Reserve policy actions and cryptocurrency market trends.
The market's positive reaction underscores the growing interest in Bitcoin as both an investment vehicle and a speculative asset amid changing economic conditions.
