Friday turned into a pretty wild day for crypto. Bitcoin actually pushed above $116,000 for a bit, and honestly, it felt like one of those moments where everything just clicks. The reason? Fresh inflation data came out that basically told everyone the Fed is probably going to cut interest rates soon.
Ethereum wasn’t sitting on the sidelines either. It jumped 2.5% to hit $4,519 , which is a nice chunk of change if you’ve been holding any. The whole crypto market gained about 1.5% and is now worth over $4.1 trillion total. That’s a lot of money floating around.
What got everyone excited was this weird mix of economic news. Inflation numbers came in showing things aren’t getting worse, but then job data got revised down by almost 900,000 positions. That’s huge. Basically, the job market isn’t as strong as everyone thought it was.
When you combine steady inflation with weaker employment, it puts the Fed in a tough spot. They can’t really focus on fighting inflation anymore when people are losing jobs. So now everyone thinks they’re going to cut rates to help the economy grow instead.
Bitcoin loves this kind of setup because lower interest rates usually mean people look for better returns elsewhere, and crypto often benefits from that shift.
Conclusion
The latest inflation and job data sent crypto soaring, with Bitcoin topping $116K and Ethereum jumping past $4.5K. Investors are betting on Fed rate cuts—and the market’s clearly loving the outlook.
Also Read: Bitcoin Stays Above
