US CPI hits lowest in 4 years; Bitcoin rises to $104,000

Last month, the U.S. Consumer Price Index (CPI) hit its lowest point in four years, sending the price of Bitcoin (BTC) soaring to $104,000.
As of 9:40 a.m. on the 14th, the domestic Bitcoin price on the Bitcoin exchange was 146,012,000 Won, up 0.28% from the same time the previous day.
At the same time, the price of Bitcoin on CoinMarketCap was 1.37% higher than the same time the previous day, at $103,829 (about 15.27 million yen).
Bitcoin was trading at the 103,000 dollar range the previous day, but at one point that morning it exceeded 104,000 dollars. The CPI announced by the U.S. for last month was lower than the market expected.
The price rose due to the release of the new stock price index. According to the US Department of Labor the previous day, the CPI rose 2.3% last month compared to the same month last year, below market expectations (2.4%).
The CPI is one of the economic indicators that the Federal Reserve uses to determine its base interest rate. Normally, when the CPI falls, it raises the risk of a decline in the Fed's base interest rate.
The price of virtual assets, which are assets, is rising. Cointelegraph, a media outlet specializing in virtual assets, reported that "CPI hit its lowest level since 2021, increasing the possibility of the Fed cutting interest rates."
"The preference for risky assets is likely to continue for the time being," he said.