Bitcoin Holds Steady Near $110,000 as Traders Await Inflation Data and Fed Signals

Bitcoin’s price has stabilized around the $110,000 mark as traders eagerly anticipate the release of US inflation data. Statements from Federal Reserve officials have hinted at the possibility of continued interest rate hikes to combat inflation, which could impact the performance of high-risk assets like Bitcoin. Investors are closely monitoring economic data, as any indication of slowing inflation could support Bitcoin’s price increase. Conversely, further increases in inflation might heighten the likelihood of the Fed aggressively raising interest rates, potentially leading to a decline in Bitcoin’s value. Analysts predict continued volatility in Bitcoin’s price in the coming period, with growing expectations surrounding upcoming monetary decisions by the US central bank.