Why did the price of Bitcoin rise today?

BTC is trading around A return of over $42,000 marks an 18-month high as BTC falls by $4 billion in two days This is in response to what happened.

Market expectations that a spot BTC exchange-traded fund (ETF) will be approved in January 2024 are reflected in the economic recovery with strong capital inflows from institutional investors.

Furthermore, the Federal Open Market Committee (FOMC), a division of the Federal Reserve Board (FRB), refrained from raising interest rates and kept interest rates unchanged at 5.

25% to 5.

50%.

Fed Chairman Jerome Powell was less restrictive in his press conference after the rate decision.

This is the third consecutive time the Fed has kept interest rates unchanged.

This suggests that monetary policy is being eased, even as the central bank remains focused on bringing inflation down to 2%.$

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