Bitcoin has surged past the $105,000 mark, marking a significant recovery from a recent dip below $90,000. The cryptocurrency's price increased by 5.1% in the past 24 hours, driven by rising expectations of U.S. interest rate cuts following a consumer price index report that aligned with market forecasts. This bullish sentiment has also propelled the memecoin sector, with Dogecoin and Shiba Inu leading gains of 8.5% and 8.9% respectively among the top cryptocurrencies by market cap. The memecoin sector as a whole surged by 10%, heavily surpassing the market average daily performance of 5.7%. Bitcoin's price today rose by 5.0%, contributing to an 11% weekly gain and a 17.5% increase from its recent low. The overall crypto market has seen a 5.7% increase in the past 24 hours, with Bitcoin's market capitalization reaching $2.07 trillion.