Bitcoin prices surged past the $113,000 mark following surprisingly weak U.S. Producer Price Index (PPI) data, fueling speculation about a potential Federal Reserve rate cut. This recent rise is being driven by increased institutional investment, with BlackRock’s recent $169 million Bitcoin investment highlighting growing confidence in the cryptocurrency as a hedge asset amidst shifting market dynamics. Analysts attribute this surge to expectations for a Fed rate cut, while key market players are noticing Bitcoin’s increasing appeal. 50 basis point rate cuts are now heavily anticipated by market players. This influence can be seen across various assets as trading volumes increase.