Odaily Planet Daily News Bitcoin prices hit $65,000 for the first time in about three weeks, thanks to a recovery in market demand for U.S. Bitcoin spot ETFs. There are signs that the Federal Reserve will ease monetary policy. On Monday, Bitcoin rose 1.2% to $65,030 before retreating to around $64,000. Last week, Bitcoin rose 7.4%, the highest weekly gain since mid-July. Federal Reserve Chairman Powell said on Friday that the time has come for policy adjustments, and he does not seek or welcome further labor market cooling, and his confidence in inflation returning to 2% has increased. The Wall Street Journal said that Powell sent the strongest signal of a rate cut so far, indicating that the Fed intends to take action to avoid further weakness in the U.S. labor market. This also indicates that the liquidity background of global markets will be more favorable. Data showed that Powell's signal stimulated a net inflow of $2.52 into U.S. spot Bitcoin ETFs, the highest level in more than a month. These funds have attracted inflows for seven consecutive days. "All eyes are on the Fed," said Cici Lu McCalman, founder of blockchain consultancy Venn Link Partners, adding that a rate cut in September could boost Bitcoin. (Bloomberg)