According to BlockBeats, citing Bloomberg, Bitcoin hit $65,000 for the first time in about three weeks, benefiting from the recovery of demand for U.S. ETFs and signs that the Federal Reserve is about to ease monetary policy. Bitcoin rose 7.4% last week, the biggest gain in the same period since mid-July.
Federal Reserve Chairman Jerome Powell made it clear on Friday that the Fed is preparing to cut the federal funds rate from its highest level in more than two decades, which indicates that global markets will usher in a more favorable liquidity environment.
Bloomberg data showed that Powell's signal drove net inflows of $252 million into 12 U.S. spot Bitcoin ETFs that day, the highest level in more than a month. These funds have attracted inflows for seven consecutive days.