Investing.com– price climbed on Tuesday, tracking broader gains across risk-driven markets amid growing bets that the Federal Reserve will begin cutting interest rates in September.
The rose 3.9% to $60,812.0 by 08:48 ET (12:48 GMT).
Selling pressure from concerns over token distributions by defunct crypto exchange Mt Gox also appeared to have cleared, while data on Monday showed crypto investment products saw some positive capital flows over the past week.
But despite recent gains, Bitcoin still remained close to a trading range seen through most of the year, as the token struggled to make new highs as interest in crypto dwindled.
Bitcoin buoyed by rate cut bets, Powell in focus
Bitcoin and crypto markets rose in tandem with a broader risk-on move across global markets, which saw Wall Street indexes log strong gains on Monday.
Risk sentiment improved amid growing…
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