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Bitcoin Rises to $114,000 on Fed Rate Cut Expectations

Bitcoin Rises to $114,000 on Fed Rate Cut Expectations

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by Giorgi Kostiuk

2 days ago

Bitcoin's price is showing significant growth amid recent macroeconomic news, reflecting the changing economic situation in the US.

Bitcoin's Price Rise on Positive Macroeconomic Signals

On September 11, Bitcoin bounced from a weekly low of $110,000 to a daily high of $114,471.65, marking its highest level so far this month.

Changes in US Inflation Policy

On September 10, the Bureau of Labor Statistics reported an unexpected decline in the producer price index by 0.1% instead of an anticipated rise of 0.3%. This shift had a significant market impact.

Investor Expectations and Potential Fed Decisions

Despite the upcoming consumer inflation data, investors are confident in a Fed rate cut. Traders are pricing in a 100% likelihood of a rate cut, supporting bullish bets on Bitcoin.

In conclusion, the current macroeconomic changes and investor expectations indicate a continued rise in Bitcoin's price amid uncertainty in monetary policy.

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