--- title: "Interest rate cut expectations rise, Bitcoin returns above $100,000" type: "News" locale: "en" url: "https://longbridge.com/en/news/222109235.md" description: "After the latest inflation data in the United States supported expectations for interest rate cuts, Bitcoin returned above $100,000, rising nearly 5% on Wednesday to $101,300. Trump's support for cryptocurrencies propelled Bitcoin to a historic high of $103,800 on December 5. The U.S. November CPI rose 2.7% year-on-year, in line with expectations, and traders raised the probability of a Federal Reserve rate cut in December to about 90%. Since the election victory on November 5, Bitcoin has risen about 50%" datetime: "2024-12-12T03:58:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/222109235.md) - [en](https://longbridge.com/en/news/222109235.md) - [zh-HK](https://longbridge.com/zh-HK/news/222109235.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/222109235.md) | [繁體中文](https://longbridge.com/zh-HK/news/222109235.md) # Interest rate cut expectations rise, Bitcoin returns above $100,000 According to the Zhitong Finance APP, after the latest inflation data in the United States supported bets on the Federal Reserve cutting interest rates again, Bitcoin has risen above $100,000. On Wednesday, Bitcoin rose nearly 5%, marking its highest increase in two weeks. As of the time of writing, Bitcoin is priced at $101,300. President-elect Trump’s support for cryptocurrency has driven Bitcoin to reach an all-time high of $103,800 on December 5. However, due to profit-taking by speculators, Bitcoin has struggled to maintain its position above $100,000 after setting the historical high. ![11.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20241212/1733975512865125.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Data released by the U.S. Bureau of Labor Statistics on Wednesday showed that the U.S. November CPI rose 2.7% year-on-year, in line with market expectations and slightly higher than October's 2.6%; it rose 0.3% month-on-month, matching market expectations. Excluding the volatile food and energy prices, the core CPI for November rose 3.3% year-on-year and 0.3% month-on-month, both unchanged from October and also in line with market expectations. After the data release, traders increased their bets on a Federal Reserve rate cut in December. The CME FedWatch tool showed that the probability of a rate cut in December surged to about 90%, up from around 80% a day earlier. Henry Elder, head of UTXO Management, stated, "The market likes to see inflation within expectations." He added that traders are trying to determine whether $100,000 is the upper or lower limit for Bitcoin's price. During his campaign, Trump promised to establish a cryptocurrency-friendly regulatory body and supported the creation of a U.S. strategic Bitcoin reserve, vowing to make the U.S. the "cryptocurrency capital." Since his victory on November 5, Bitcoin has risen by about 50%. During the same period, the U.S. spot Bitcoin ETF attracted approximately $11 billion in net inflows ### Related Stocks - [Phunware, Inc. (PHUN.US)](https://longbridge.com/en/quote/PHUN.US.md) - [Trump Media & Technology Group Corp. (DJT.US)](https://longbridge.com/en/quote/DJT.US.md) - [Trump Media & Tech - CW28 (DJTWW.US)](https://longbridge.com/en/quote/DJTWW.US.md) - [GUANGDONG GUANGHONG HOLDINGS (000529.CN)](https://longbridge.com/en/quote/000529.CN.md) - [Ligao Foods (300973.CN)](https://longbridge.com/en/quote/300973.CN.md) - [GUOQUAN (02517.HK)](https://longbridge.com/en/quote/02517.HK.md) - [GUOLIAN AQUATIC (300094.CN)](https://longbridge.com/en/quote/300094.CN.md) ## Related News & Research - [Here's How Much $100 Invested In abrdn Physical Silver Shares ETF 10 Years Ago Would Be Worth Today](https://longbridge.com/en/news/281394387.md) - [Destiny Tech100 Stock Rises After SpaceX IPO Rumors](https://longbridge.com/en/news/281415250.md) - [BREAKINGVIEWS-SpaceX IPO will gauge market moxie more than depth](https://longbridge.com/en/news/281406751.md) - [Fired via email? Some of the 30,000 workers cut by Oracle woke up to a morning message saying they were laid off.](https://longbridge.com/en/news/281429821.md) - [Palantir vs. Oracle: 1 AI Stock Looks Cheap](https://longbridge.com/en/news/281400403.md)