Bitcoin traded slightly higher at $97,434 on Tuesday, still down over $6,400 from last week's all-time high of $103,900, ahead of key U.S. inflation data later in the day, which is expected to provide insights into future rate trajectories.
As of 10:46 am IST, Bitcoin was up 0.8%, trading at $97,434, while Ethereum fell 1.1% to $3,664. During the session, BTC reached a high of $98,270 and a low of $94,321.
Investors' focus is on the U.S. Consumer Price Index (CPI), which is expected to have risen by 0.3% in November. The data could help set expectations for the Fed's 2025 policy.
The Fed is likely to cut rates by 25 basis points on December 18, according to 90% of economists polled by Reuters, with most expecting a pause in late January amid concerns over inflationary risks.
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View Details»«Bitcoin witnessed a considerable drop to $94,300 after approximately $1.7 billion in positions were liquidated yesterday. The asset is currently volatile leading into US CPI data release tomorrow and remains below its critical resistance level at $98,500,» said
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