Bitcoin Price Targets $64K as Market Sentiment Improves
After weeks of caution, Bitcoin (BTC) traders are starting to shake off their fears and increase their trading activity. This renewed momentum came in response to the Federal Reserveâs decision to cut interest rates by 50 basis points (0.50%), reigniting market confidence.
Bitcoin is now trading above $61,000 for the first time in about a month, suggesting a potential rally is on the horizon.
Bitcoin Sees Rebound in Trading Activity
The Federal Reserveâs 50 basis point rate cut is expected to drive more investments towards riskier assets, such as Bitcoin. This trend has already begun, with a positive shift in sentiment towards the leading cryptocurrency.
After weeks of fear dominating the market, sentiment turned neutral on Wednesday following the rate cut. This shift indicates renewed confidence, with Bitcoin holders neither overly pessimistic nor overly greedy. In such neutral conditions, investors usually gradually return to the market, increasing trading volumes and contributing to a steady increase in prices.
