🔵 #Can BTC Break $110K?#
Bitcoin recently broke above $107,000 and is currently trading around $105,000, just shy of its all-time high at $109,580. Do you think Bitcoin can set a new record and push past $110,000? Share your analysis and predictions with us!
🔵 #AI Token Market Cap Rebounds#
According to CoinGecko, the total market cap of the AI agent sector has rebounded to $6.862 billion, with a 1.2% increase in the past 24 hours. Notably, VIRTUAL surged 18.5%, and AI16Z rose 7.1%. Which AI tokens are you bullish on? How are you planning your portfolio strategy? Let’s hear your thoughts!
#April CPI Data Released# Bitcoin Reaches $104K: Soft US CPI, Trade Optimism Influence
Bitcoin rose on Wednesday, supported by weaker-than-expected US inflation data, strengthening expectations for a Fed rate cut, and a temporary US-China trade truce.
BTC rose 1.3% to $103,862.5.
Bitcoin surged sharply last week, breaking the $100,000 level on optimism that trade tensions will ease. However, it has lost momentum in the past few sessions due to profit taking.
Soft US CPI data raised expectations for a Fed rate cut.
US consumer price index data came in below expectations on Tuesday, easing concerns about the inflationary impact of trade tariffs.
However, a joint statement by the US and China on Monday to temporarily withdraw tariffs helped ease fears of a global economic downturn.
The US will reduce its tariff on Beijing from 145% to 30%, while China will reduce its retaliatory tariff from 125% to 10%. Both cuts will last 90 days.
While these developments give the Fed more room to adjust interest rates, concerns about the potential for inflation to accelerate again due to tariff risks persisted.
Analysts warned that the central bank would wait for clear signs of economic deterioration before cutting rates. The Fed will prioritize its credibility in combating inflation over short-term economic support.
Bitcoin and major altcoins posted slight gains as traders grew optimistic that the Fed could eventually find room to cut interest rates.