Bitcoin held onto gains ahead of US inflation data after trading this week had seen the cryptocurrency dip early on before rebounding towards the US$100,000 mark again.
Come Wednesday, Bitcoin was up 0.4% for the day at US$96,928.
The cryptocurrency had briefly stooped below the US$90,000 mark on Monday, as axed Federal Reserve rate cut bets following strong US job market data last week took Bitcoin further from its December all-time peak of over US$108,000.
Wednesday’s US inflation figures have drawn attention as a result, with markets mulling any scope for further rate cuts in 2025 on fears of stubborn inflation.
Expectations are for inflation to have accelerated from 2.7% to 2.9% between November and December, with the core rate seen remaining flat at 3.3%.
Among smaller tokens, Ethereum headed 0.3% lower to US$3,216 before Wednesday’s inflation figures.
Ripple rallied 6.2% to US$2.84 in the meantime, as speculation built around the Security and Exchange Commission ditching a case against the crypto firm ahead of a deadline to file a brief on Wednesday.