The post Bitcoin turns bullish thanks to inflation data and the anticipation of Trump appeared on BitcoinEthereumNews.com.

Yesterday, Bitcoin recovered much of the ground lost during the recent bear sessions, driven by the positive sentiment for the imminent inauguration of Trump and the positive data on US inflation. Investors seem to view the U.S. monetary landscape with optimism as preparations are underway for the new President’s entry into the White House. Let’s see all the details below. Bitcoin recovers 100,000 dollars driven by favorable inflation data and anticipation of Trump Yesterday Bitcoin momentarily returned above 100,000 dollars thanks to the favorable push from the data on U.S. inflation. At 14:30 (UTC+1), the much-anticipated consumer inflation data and the Producer Price Index (PPI) data for the month of December were released. According to reports, the consumer price index (CPI) rose by 0.4%, in line with analysts’ expectations. At the same time the annual inflation rate in the USA has reached 2.9%, slightly up from the previous figure of 2.7%, but also in line with forecasts. Core inflation, excluding food and energy, increased by 0.2% month over month, but the annual core inflation rate fell by 0.1%, going from 3.3% to 3.2%. These informations have triggered a subtle optimism in the risk-on markets, including the crypto one, which was not absent. Bitcoin rose by 2% at the time of the CPI release, first reaching 98,900 dollars, and then extending above 100,000 dollars, before slightly retracing. The reason for this bullish sentiment is due to the fact that the FED will be more inclined to make an interest rate cut with rising inflation. Although the odds of a 25 basis point cut in January are very low, there remains the possibility of a shift to a slightly more expansive monetary policy throughout the course of 2025. ⚠️BREAKING: *U.S CPI 0.4% M/M, EXP. 0.4%*U.S. CPI CORE 0.2% M/M, EXP. 0.3% *U.S.…

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Filed under: News - @ January 16, 2025 2:29 pm