Bitcoin once again broke through $101,000. So, what is supporting the price development?

The announcement of the US Consumer Price Index (CPI) data being in line with expectations has sparked a new round of recovery in the cryptocurrency market. The Fed is expected to lower interest rates by 25 basis points next week, which has created a positive atmosphere among investors.
After falling to $94,100 earlier this week, Bitcoin has recovered and once again exceeded the $101,000 level. Bitcoin has risen by more than 6% in the past 24 hours, continuing to lead the entire cryptocurrency market.
XRP and AI tokens drove the rise
After Ripple's RLUSD stablecoin received regulatory approval, XRP rose 15% in the past 24 hours. This further strengthens XRP's strong performance in the cryptocurrency market.
AI tokens have also shown significant growth. According to reports, Apple is collaborating with Broadcom to develop AI chips, leading to a value increase of over 15% for tokens like NEAR Protocol (NEAR), Internet Computer (ICP), and Render (RENDER).
The Federal Reserve and U.S. data have also contributed to the market's recovery
The expected rate cut by the Federal Reserve has supported liquidity and paved the way for a renewed rise in many cryptocurrency assets, including Bitcoin.
Despite the rebound of Bitcoin from the bottom level this week, which has boosted investors' confidence, the positive sentiment spreading in the market may continue in the next few days.
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