Inflation Heats Up! Bitcoin Reserve Breakthrough! Is BTC Price About to Break $100,000?
TradingKey – The minutes from the Federal Reserve's meeting indicate rising inflation concerns and new developments in Bitcoin's strategic reserves, boosting Bitcoin's price rebound. But can it break the $100,000 mark?
On Thursday, Bitcoin's price began to strengthen, influenced by the Federal Reserve's monetary policy meeting minutes and new developments in Bitcoin strategic reserves. According to market data, Bitcoin rebounded by 1.6% in the past 24 hours, briefly surpassing $97,000 and currently priced at $96,961.
Bitcoin Price Chart, Source: CoinMarketCap.
This morning, the Federal Reserve released the minutes from its January monetary policy meeting. The minutes revealed that the potential impact of Trump-era policies has raised inflation concerns, leading the market to gradually regain expectations for interest rate cuts, which, in turn, boosted Bitcoin's price. Previously, the Federal Reserve had hinted that it was "not in a hurry to cut rates further," significantly dampening market expectations for rate cuts.
According to market news, Montana's strategic Bitcoin reserve legislation has passed committee review. The proposed House Bill 429 in Montana allows the state treasurer to invest in Bitcoin, up to $50 million, before July 15, 2025.
As shown in the following chart, Bitcoin's price is currently facing resistance at the $100,000 level, which serves as a psychological barrier and is also the midpoint of the range (between $90,000 and $110,000). Attempts to breach this level on January 7 and February 14 were unsuccessful, and a third challenge is imminent, with a higher likelihood of an upward breakthrough.
Bitcoin Price Chart, Source: TradingView.
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