Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>
Investing.com– Bitcoin rose on Thursday, extending an overnight rebound as risk appetite was boosted by in-line U.S. consumer inflation data, which kept investors largely betting on a December interest rate cut.
The world’s largest cryptocurrency had now recouped all of its losses made over the past week, while also appearing to have broken out of a $90,000 to $100,000 trading range seen in recent weeks.
rose 3.5% to $100,875.9 by 00:47 ET (05:47 GMT).
Broader crypto prices also advanced tracking Bitcoin, although most altcoins clocked much stronger gains as risk appetite increased. The prospect of friendlier U.S. crypto regulations under a Donald Trump presidency also kept most major cryptos sitting on strong gains through the past week.
CPI data cements Dec rate cut bets
Investors were seen ramping up their bets that the Federal Reserve will cut interest rates by 25 basis points next week, after inflation data read in line with expectations.
The reading still showed inflation remained sticky, raising doubts over the long term trajectory of rates.
But the prospect of lower near-term rates boosted risk appetite, with Wall Street indexes also rallying to record…
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