Bitcoin is nearing the $100,000 mark after rising over 2% in the past 24 hours. This surge was fueled by better-than-expected Consumer Price Index (CPI) data, which boosted optimism in financial markets. Bitcoin reached an intraday high of $99,400 and is currently trading at $99,000. The CPI data showed a 0.4% increase in December, slightly exceeding expectations. On a year-over-year basis, CPI came in at 2.9%. The core pace of inflation remains above 3%. The weakening dollar, triggered by the CPI release, sent both traditional and crypto markets higher. This surge in Bitcoin follows weeks of rangebound trading driven by macroeconomic data and monetary policy expectations.



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