Bitcoin 
$109,054‘s price has surged back to the $103,300 level, influenced by recent U.S. data. The decision regarding the Fed meeting will be announced tomorrow. Markets anticipate positive outcomes from the Fed meeting based on leading indicators. What has caused the recent surge in data?
Why Did Bitcoin Rise?
The Conference Board’s Consumer Confidence Index for January 2025 was just released. Although expectations were set at 105.85, the new figure came in at 104.1, lower than the previously reported 104.7. This decline reflects consumers’ perspectives on the economic conditions. While optimism about the future persists, the data shows a slight decrease in investor confidence compared to previous reports.
Upcoming Influences on the Crypto Market
In addition to significant indicators like this week’s upcoming PCE data, Powell’s statements tomorrow evening are likely to increase volatility in the cryptocurrency market. If the Fed signals more than two rate cuts this year and mentions optimism regarding Trump’s inflation strategies, it could provide much-needed support.
Trump has claimed that reducing energy prices will help balance inflation and lead to lower interest rates. Although he has made comments suggesting he would request the Fed to lower rates, the institution’s independence makes such requests unlikely, at least officially.
