Bitcoin encounters hurdles at $113K amidst Fed’s Bowman’s allusions to accelerated rate cuts

Bitcoin is experiencing some difficulty breaking through the $113,000 mark, as Federal Reserve’s Michelle Bowman suggests potential for quicker interest rate reductions. This development is occurring while the markets are keenly awaiting crucial economic data that might influence the course of monetary policy. Investors are paying close attention to the remarks made by central bank officials, looking for any indications about inflation and economic growth, which will ultimately decide when and how much future interest rate cuts will be. Cryptocurrency markets are particularly reactive to these events, as changes in interest rates can affect how appealing digital assets are as an investment option.