Bitcoin Nears $100K Amid Crypto Surge and Economic Speculation

Bitcoin approached the $100,000 mark as positive inflation data fueled hopes for further interest rate cuts by the Federal Reserve, boosting investor confidence. Bitcoin's dominance increased to 60%, while Ethereum and Dogecoin also saw gains, though Ethereum later dipped. The global cryptocurrency market cap rose to $2.98 trillion. Analysts predict continued volatility for Bitcoin, with some setting a long-term target of $255,000. Meanwhile, the Consumer Price Index rose to 2.6%, increasing the likelihood of a rate cut at the next FOMC meeting.