Bitcoin recovers to $100,000 range after US CPI release

Bitcoin (BTC), which fell to $95,000, has resurfaced above $100,000 following the release of the U.S. Consumer Price Index (CPI).
As of 1:15 p.m. on the 12th, the Bitcoin price was 3.77% higher than the same time the previous day according to CoinMarketCap.
The November Consumer Price Index (CPI), which plays a crucial role in determining whether the Federal Reserve Board (FRB) will lower interest rates, was 100,937 dollars.
The 2.7% increase from the previous year was in line with expectations. The market is confident that the Federal Reserve will cut interest rates by 0.25 percentage points at its Federal Open Market Committee (FOMC) meeting next week.
Following this, Bitcoin also began to rise. Choo Ki-young, CEO of analysis company CryptoQuant, said on X (formerly Twitter)
"Any price correction in Bitcoin will be relatively small due to steady buying from exchange-traded funds (ETFs) and institutions."