Bitcoin Climbs to $98.4K Amid Inflation Concerns; Ethereum, XRP, Cardano Show
Bitcoin Edges Higher Amid Market UncertaintyBitcoin has seen a modest increase, reaching $98.4K, as traders remain cautious amid inflation concerns and uncertainty surrounding the Federal Reserve's interest rate decisions. The leading cryptocurrency has been trading in a narrow range, influenced by global trade tensions and the upcoming Consumer Price Index (CPI) data.
Despite previous optimism driven by expectations of friendlier crypto regulations, concerns over rising U.S. interest rates persist. Elevated interest rates typically dampen risk appetite, making non-yielding assets like Bitcoin less attractive while strengthening the U.S. dollar, which can pressure the cryptocurrency market.
Bitcoin Technical Overview
BTC currently at $98k. What do you think on its next move?
