Bitcoin has boostd in value by 11% in the past week, nearing its highs from July. Nevertheless, the possibility of the Federal Reserve cutting rates by 25 basis points could support Bitcoin’s value.
The European Central Bank’s decision to reduce key interest rates by 25 basis points is expected to improve market liquidity, which could benefit risk assets like Bitcoin. Analysts are concerned that as the U.S. However, macroeconomic factors could pose challenges to the cryptocurrency’s price. While challenges exist, analysts remain optimistic about Bitcoin’s potential price surge, with some predicting it could reach $70,000 by the start of the week.
bond yields rise, Bitcoin could become less attractive to investors.
