Bitcoin is approaching six-figure levels again, despite concerns of a potential decline, while altcoins remain behind.
Current Bitcoin Status
Bitcoin is nearing the $106,000 mark with liquidity concentrated around it. Those taking short positions in futures have been profiting for days. Bitcoin's recent surge followed new US data and statements from the Federal Reserve.
Federal Reserve Statements
Non-Farm Payroll data was revised down for the previous year, and January figures fell short of expectations. This may compel the Fed to cut interest rates. Fed member Neel Kashkari remarked: > 'The rise in 10-year yields is not concerning. The Fed will bring inflation down again.'
Response to Tariff Policies
When asked about tariff policies, Kashkari replied, 'We need to wait and see.' European Commission President Ursula von der Leyen said the EU is prepared to respond firmly to any potential additional tariffs from Trump.
Bitcoin's growth reflects the complex market conditions where global policies and US economic data play a crucial role. Investors will closely monitor the actions of the Fed and international tariff policies.
