CandleFocus Bulls Back in Driver's Seat as BTC Reclaims $60K
2024-09-13
Author: Content Editor
Bitcoin's price rose above $60,000, reaching $60,018 on the Bitstamp exchange. Despite September historically being the worst-performing month for Bitcoin, the cryptocurrency has gained 1.48% this month. This recent price spike may be attributed to speculation of a 50-basis point interest rate cut by the U.S. Federal Reserve. MicroStrategy co-founder Michael Saylor also bought $1.1 billion worth of Bitcoin, but it had a minimal impact on the price. Bitcoin is approaching a crucial resistance zone and could surge to $64,000 if bullish momentum continues. VC firm Placeholder's partner Christopher Burniske suggests that Bitcoin is regaining its strength.
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