Bitcoin is consolidating around $103,000 as traders await macroeconomic signals. While bulls aim for a breakout above $108, recent trading saw a lack of momentum after initial gains. Traders remain optimistic for short-term price increases, with some suggesting consolidation could benefit altcoins. Market dynamics are influenced by the Federal Reserve's cautious stance, with rate cuts anticipated to come later than previously expected. Following a more favorable Consumer Price Index report, the outlook for rate cuts has shifted, leading to only two cuts expected for 2025 instead of four. Overall, the sentiment remains mixed as traders balance their optimism for Bitcoin against potential macroeconomic hurdles.

Source 🔗