Bitcoin has surged past the significant threshold of $114,000, prompting traders to closely monitor the latest developments regarding the U.S. Consumer Price Index (CPI) and the potential for interest rate cuts. This remarkable price movement in the cryptocurrency market has sparked interest among investors, as they seek to understand the underlying factors influencing Bitcoin's rise. The critical economic indicators, particularly the CPI, which measures inflation, and the expectations surrounding future interest rate adjustments by the Federal Reserve, are playing a pivotal role in shaping market sentiment and trading strategies. As such, traders are keenly observing these economic signals to gauge their potential impact on Bitcoin and the broader cryptocurrency landscape.
source: https://blocknews.com/bitcoin-breaks-114k-here-is-why-traders-are-watching-u-s-cpi-and-rate-cut-odds/