Bitcoin Breaks Through $103,000 as Cooling Inflation Fuels Rate Cut Hopes

Bitcoin surged past the $103,000 mark on Tuesday following positive U.S. inflation data, fueling optimism that the Federal Reserve might begin cutting interest rates sooner than expected. This new record high comes amidst signs of cooling inflation and has spurred a renewed belief in the possibility of earlier rate cuts. 📈 As such, the market anticipates two rate cuts by December, with safer assets like bonds experiencing some pullback. In turn, cryptocurrencies, often seen as an inflation hedge, have surged back into focus.