Bitcoin rebounds to $100,000 as inflation data puts Fed rate cuts ‘back on the table’

Bitcoin has changed direction after weeks of Ethereum gaining 8% and Solana soaring 9%.

“Bitcoin is up today because both yesterday's producer price index and today's consumer price index were relatively moderate,” said Zach Pandl, head of research at digital asset manager Grayscale. “It raises confidence about disinflation in the economy and the likelihood of Fed rate cuts this year.”