🟩Bitcoin has surpassed the $70,000 mark for the first time in seven months. This surge is linked to the approval of exchange-traded funds (ETFs) and the potential for an interest rate cut by the U.S. Federal Reserve.
🟩The Federal Reserve’s rate reduction and the anticipated rate adjustments to stabilize economic growth are supporting Bitcoin’s rise. Ryan Lee, Chief Analyst at Bitget Research, highlights the importance of these factors. Market sentiment may also be influenced by poll results showing Donald Trump and Kamala Harris competing for voters’ support.
🟩Expectations of a rate cut are expected to positively impact Bitcoin and other cryptocurrencies.