Analysis: Traders are trying to determine whether $100,000 is the upper or lower limit for Bitcoin

ChainCatcher news, according to Bloomberg, the enhanced expectations of a Federal Reserve interest rate cut also helped boost investor sentiment on Wednesday. After the U.S. CPI inflation met expectations, speculators increased their bets on a rate cut by the Federal Reserve, and the prospect of monetary policy easing drove the tech-heavy Nasdaq 100 index to a record high.

Henry Elder, head of UTXO Management, stated, "The market likes to see inflation meet expectations," and added that traders are "trying to figure out whether $100,000 is the ceiling or the floor for Bitcoin."