Bitcoin remains stable around $97k awaiting U.S. inflation data, with potential negative impact due to high rates.

From Investing.com

December 11, 2024 01:25 AM:

Bitcoin remained stable amid a trading range of $90,000 to $100,000 as traders awaited U.S. inflation data. Other cryptos saw losses due to geopolitical tensions and profit-taking. Bitcoin priced at $97,483.5. Inflation data crucial for Fed’s interest rate decisions, sparking uncertainty in markets. High rates could negatively impact speculative assets like crypto.

MicroStrategy’s stock surged amid speculation of being added to the Nasdaq 100, potentially attracting $2.1 billion in ETF buying. The company’s Bitcoin bet paid off, with a 450% value increase this year. Analysts predict further upside if added to the index.

Altcoins saw mixed prices after recent losses, with most tokens trading higher for the year. Ethereum dropped 1.1% to $3,661.36, while XRP steadied at $2.3368. Cardano rose 1.3%, Dogecoin and Solana were flat, while Shiba Inu fell 3.4%.

Read more at Investing.com: steadies at $97k with eyes on CPI data By Investing.com