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Bitcoin Stocks rose to a record high on Sunday night as investors awaited an expected rate cut from the Federal Reserve later this week.
The price of the flagship cryptocurrency recently rose by more than 4% to $105,207.00, according to Coin Metrics. Earlier, it hit a new record of $106,509. ether It was also up 4%, rising to the key level just below $4,000. the broader crypto market to Coin table 20 The index rose 4%.
Cryptocurrency Stocks Coin library and micro strategy There was little movement in premarket trading even after MicroStrategy’s announcement Will join the Nasdaq 100 Index Stock index and trading volume are high QQ ETF later this month.
Bitcoin rises to new levels above $106,000
Bitcoin rebounded on Friday after the tech-heavy Nasdaq closed with a 0.3% gain. Outperforms other major stock indexes.
investors are The Fed is expected to cut interest rates A two-day policy meeting will take place this week, ending on Wednesday. The CME Fedwatch tool currently predicts a 96% chance of a 25 basis point rate cut. This could be positive for the price of Bitcoin, which typically trades like a tech stock and therefore benefits from lower interest rates.
Lower interest rates also mean a weaker dollar and an increase in the money supply – both of which demonstrate long-term correlation with Bitcoin.
Currently, Bitcoin is up nearly 8% this month, 50% since the U.S. presidential election, and 145% for the year. The promise and possible creation of a friendlier regulatory environment National Bitcoin Strategic Reserve The incoming Donald Trump administration continues to be a positive catalyst for digital assets and cryptocurrencies in general.
