China's rate cut contributed to Bitcoin's (BTC) move towards the $68,000 target at Wall Street's open on July 22. According to Cointelegraph Markets Pro and TradingView data, BTC price is on the rise again after falling below $67,000. The People's Bank of China (PBOC) reduced the seven-day reverse repo rate by 0.1% to 1.7%. This step was considered a surprise in the markets.

Falling global interest rates are an important factor for crypto asset performance. However, the US has yet to follow this trend. Popular analyst Rekt Capital stated that Bitcoin could reach new highs. How do you think this interest rate cut will affect BTC? Share your thoughts in the comments.