CandleFocus ? Bitcoin breaks $66K as it records its best September in history
2024-09-27
Author: Content Editor
Bitcoin has surged to $66k, reaching a two-month high and achieving its best performance ever in September. This rally is driven by global economic factors and institutional demand. The rise in Bitcoin's price is similar to the increase in Chinese stocks due to China's economic stimulus measures. The recent rate cut by the US Federal Reserve and positive market expectations for another rate cut in November have also contributed to Bitcoin's upward momentum. Institutional demand remains strong, with BlackRock buying more Bitcoin than any ETF has sold in the past three weeks. Additionally, Binance founder Changpeng Zhao is set to be released from jail today. With these factors in play, Bitcoin's strong September could lead to continued bullish action in October, historically the best month for Bitcoin.
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