Interest rate cut expectations from the Fed increased: Bitcoin exceeded $ 70,000.
Economic data released yesterday in the USA raised expectations in the market that the Fed may cut interest rates this year. Meanwhile, while record entries were seen in#spotbitcoinETFs on a daily basis, Bitcoin rose to the $ 71,000 range.
While Bitcoin continued its positive trend in the last 24-hour transactions, it appreciated by 2.5% after yesterday's ETF transactions, which saw record inflows, and closed the day at $ 70,530. Bitcoin, which started the new day with buyers, continued to be traded in the $ 71,000 band in the first hours of the day.
Comments in the market were that confidence that the Fed would cut interest rates increased due to the Job Opportunities and Personnel Turnover Rate (JOLTS) data announced yesterday coming in below expectations. While this expectation created an effect that increased risk appetite, the positive trend continued in Bitcoin. On the other hand, the rapid entry of the cryptocurrency to $ 70,000 also strengthened the expectations that the record level, which is currently approximately 5% away, will be exceeded.
