Bitcoin Surges to $114K Amidst Cooling US Inflation

Bitcoin’s price has surged to a two-week high of $114,000 (USD) in anticipation of the upcoming US CPI data release. This rise coincides with lower than expected inflation and market speculation about potential Federal Reserve rate cuts. Analysts are closely watching for how this will affect Bitcoin, Ethereum, and other major cryptocurrencies. The price jump has prompted increased institutional investment in Bitcoin ETFs, signaling a shift in market dynamics. The impact is particularly noticeable across the crypto ecosystem, as trading volumes have spiked on platforms like Coinbase and Binance, driving further volatility.