Bitcoin Needs to Surpass $65,000 to Officially Start an Uptrend Cycle!

Today (September 25), BTC price continued its growth momentum in recent weeks by approaching the important resistance level at $65,000.

As of the time of writing, BTC (Bitcoin) is currently trading around $64,400 - up more than 2% over the past 24 hours.

Some top coins that recorded good gains in the past day include WIF (up 15%), SUI (up 14%). Since the beginning of September, SUI has increased by more than 150% and become one of the best performing coins in the Crypto market.

The recent growth momentum of BTC in particular and investment markets in general comes from a series of countries starting a monetary policy easing cycle.

Last week, the US Federal Reserve's (FED) aggressive 0.5% interest rate cut helped the S&P 500 and Dow Jones (DJI) indexes simultaneously set new highs.

According to the CME FED Watch tool, the probability of the FED cutting interest rates by another 0.5% at its meeting in November is at 61%, while only 39% of traders believe the FED will cut by 0.25%.

Yesterday (September 24), China launched its largest economic stimulus package since the Covid 19 pandemic broke out in 2020. This news sent the Shanghai Composite index up more than 4% & helped Asian stock indexes record bright green.