Investing.com–Bitcoin price climbed marginally on Thursday, steadying after breaking out of an over two-month trading trough as weak U.S. economic data fueled expectations that the Federal Reserve will cut interest rates.
rose 0.25% in the past 24 hours to $71,133.9 by 08:45 ET (12:45 GMT). The token stabilized after breaking out of a $60,000 to $70,000 trading range this week, ending a trough it had fallen into since mid-March.
Bitcoin near record highs as ETF inflows surge
The world’s biggest cryptocurrency was now about $3,000 away from a record high hit in March, benefiting from weakness in the dollar as traders priced in interest rate cuts by the Fed.
U.S.-listed spot exchange traded funds of the token saw a spike in inflows this week, bringing total year-to-date inflows to about $15 billion. Spot Bitcoin ETFs also saw four straight weeks of…
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