Bitcoin nears $100,000 as inflation data boosts rate cut expectations

Bitcoin prices approached $100,000, reaching over $93,000 during U.S. trading before correcting to around $89,875. This surge was driven by positive inflation data, increasing expectations for interest rate cuts by the Federal Reserve. Ethereum saw a decline to $3,190 after peaking at $3,366, while Dogecoin rose to $0.3925. Bitcoin's market dominance increased to 60%, indicating stronger investor confidence compared to other cryptocurrencies. The global cryptocurrency market capitalization rose to $2.98 trillion. Analysts noted a bullish pattern for Bitcoin, with some predicting a potential price target of $255,000.