{"id":463748,"date":"2024-09-27T14:45:40","date_gmt":"2024-09-27T14:45:40","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=862786"},"modified":"2024-09-27T14:45:40","modified_gmt":"2024-09-27T14:45:40","slug":"bitcoin-climbs-to-65k-boosted-by-u-s-and-china-monetary-stimulus-next-stop-70k","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/27\/bitcoin-climbs-to-65k-boosted-by-u-s-and-china-monetary-stimulus-next-stop-70k\/","title":{"rendered":"Bitcoin Climbs to $65K, Boosted by U.S. and China Monetary Stimulus\u2014Next Stop: $70K?"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-03-06.37.43-An-illustration-depicting-the-topic-Analyst-Predicts-Bitcoin-May-Hit-Lows-This-Month-Before-Q4-Rally.-The-scene-shows-a-Bitcoin-symbol-in-the-center.webp\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><b>Bitcoin surged above $65,000 for the first time in four weeks, driven by market activity and global economic news.<\/b><\/li>\n<\/ul>\n<ul>\n<li><b>The U.S. Federal Reserve\u2019s interest rate cut and China\u2019s potential stimulus measures have boosted investor optimism.<\/b><\/li>\n<\/ul>\n<hr>\n<p><span>Bitcoin has climbed above $65,000 for the first time in four weeks, touching $65,687 on Thursday. This latest rise is happening as global markets respond to important events such as decisions of the US Federal Reserve and possible stimuli in China.<\/span><\/p>\n<p><span>The price of Bitcoin has increased just before the expiration of more than $5.8 billion in options contracts, which may increase the volatility of the market. <a href=\"https:\/\/www.crypto-news-flash.com\/bitcoin-targets-80000-as-uptober-rally-gains-momentum-3-key-catalysts\/\">Options expiry<\/a> is an important event that can greatly affect Bitcoin prices since traders change their strategies according to the current market situation. Notably, with Bitcoin trading above $65,000, the market has already witnessed a rise in liquidations within the last 24 hours to $156.41 million.<\/span><\/p>\n<p><span>The present upsurge in the price of Bitcoin can be attributed to last week when <a href=\"https:\/\/www.crypto-news-flash.com\/us-federal-reserve-signals-pause-on-rate-hikes-bitcoin-gears-up-for-a-rally\/\" target=\"_blank\" rel=\"noopener\">the US Federal Reserve<\/a> decided to reduce interest rates by 50 basis points more than anticipated. This was the Fed\u2019s first rate cut since the COVID-19 pandemic over four years ago, which has indicated a change in monetary policy due to the weakening of the economy.&nbsp;&nbsp;<\/span><\/p>\n<p><span>Market participants are now speculating that another 50 basis point rate cut could be on the table when the Fed meets again on November 7, <\/span><a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\"><span>as indicated by data <\/span><\/a><span>from the CME FedWatch Tool.<\/span><\/p>\n<h3><span>Global Markets Respond to China\u2019s Potential Stimulus<\/span><\/h3>\n<p><span>Other than the U.S. monetary policy, global markets also found support from information that Chinese officials are looking at injecting as much as 1 trillion yuan ($142 billion) into the largest state-owned banks in the country. This potential stimulus is intended to boost China\u2019s faltering economy which has been hindered by some issues like low consumer spending and stress in the housing market.<\/span><\/p>\n<p><span>The effect of China\u2019s possible stimulus was seen in the markets right away. The Shanghai Composite rose 3.6%, and it is on track for its best weekly performance in a decade. European and US stock markets also climbed higher, with the US stock indices slightly shrinking their intraday gains on Thursday.<\/span><\/p>\n<h3><span>Precious Metals and Spot Bitcoin ETFs See Renewed Interest<\/span><\/h3>\n<p><span>The positive market sentiment was also seen in precious metals as gold prices climbed to above $2,700 per ounce and Silver hit its highest level in 12 years. The trend towards safe-haven assets is driven by the fact that investors are worried about the risks associated with the current economic environment.<\/span><\/p>\n<p><span>The recent Bitcoin rally<a href=\"https:\/\/www.crypto-news-flash.com\/institutional-interest-in-bitcoin-etfs-rises-amid-market-volatility\/\"> has also led to increased interest<\/a> in the U.S.-based spot Bitcoin ETFs that had been witnessing reduced inflows in the last few weeks. BlackRock\u2019s iShares Bitcoin Trust (IBIT) saw large inflows, investors poured in nearly $185 million on Wednesday after adding $98.9 million the day before that. This increase in investment is a good indicator that institutional investors are becoming more positive about Bitcoin as it rises in value once more.<\/span><\/p>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin surged above $65,000 for the first time in four weeks, driven by market activity and global economic news. The U.S. Federal Reserve\u2019s interest rate cut and China\u2019s potential stimulus measures have boosted investor optimism. Bitcoin has climbed above $65,000 for the first time in four weeks, touching $65,687 on Thursday. This latest rise is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":463749,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1874,1182,25],"class_list":{"0":"post-463748","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-bitcoin-btc","9":"tag-bitcoin-etf","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=463748"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/463749"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=463748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=463748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=463748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}