Bitcoin Surpasses $71,000: What Fueled the Rally?

🟡Bitcoin showed solid growth following the release of U.S. labor market data. Weak employment figures and a decrease in new job numbers led to a drop in the U.S. Dollar Index (DXY), which in turn pushed Bitcoin above $71,000.

🟡The FedWatch tool indicates a high likelihood of a 0.25% rate cut by the Federal Reserve in November, which could further support the growth of digital assets. Technical indicators are showing optimistic signs, with Bitcoin’s monthly candle closing four months of a downtrend.