Bitcoin surges to $65K, driven by U.S. and China interest rate cuts boosting investments.
Analysts predict potential volatility, with targets ranging from $57K to $78K short-term.
Technical indicators like MACD and RSI confirm strong bullish momentum for Bitcoin’s price.
Bitcoin’s price hit $65K, its highest point since August, and the latest price actions suggest a possible rally to $74K in coming weeks. Several key macroeconomic factors are at play in driving Bitcoin’s price rise, with a major contributor being the U.S. Federal Reserve’s interest rate cut.
This has renewed hope in the market, as investors started shifting their focus to risk assets, including Bitcoin. Lower interest rates of course make borrowing cheaper, which encourages investments in crypto assets that do well in flexible financial environments.
The People’s Bank of China (PBoC) also helped boost bullish sentiment by introducing interest rate cuts and easing policies to restore its economy. These global central bank moves have reignited interest in Bitcoin, with market participants speculating on even higher price targets.
$74K in the Coming Weeks?
Analysts such as Ali Cha…
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