Bitcoin crosses $101,000 amid optimism over US inflation data likely pushing a Fed rate cut decision

The world’s biggest cryptocurrency Bitcoin, has resumed its way past the $100,000 level on December 12, as the recent United States inflation data increased likelihood of the Federal Reserve (Fed) deciding on an interest rate cut, according to a Bloomberg report.

Since US President-elect Donald Trump’s election victory, Bitcoin has surged by significant levels. Further, Trump’s moves to undo crackdowns on the sector imposed by Joe Biden’s administration has driven the rally, it added.