The price of Bitcoin today rises to $104,000

Bitcoin rose on Friday as investors assessed the U.S. Federal Reserve’s outlook on interest rates following this week’s lower inflation data.

At the same time, cryptocurrency markets remained cautious after the largest U.S. crypto exchange, Coinbase, announced it could incur a financial loss of up to $400 million due to a cyberattack.

Bitcoin rose 1.6% to $104,014.5 as of 8:50 a.m. Saudi time.

The cryptocurrency jumped nearly 10% last week, surpassing the $105,000 level, but profit-taking and cautious sentiment about the U.S. economy halted the rally.

Nevertheless, Bitcoin remained supported above the key $100,000 level amid optimism over easing trade tensions