Investing.com– Bitcoin’s price rose on Wednesday as persistent cheer over global monetary easing spurred more flows into risk-driven assets, with the world’s biggest cryptocurrency now in sight of a major breakout.
A barrage of stimulus measures from China also aided overall sentiment, while markets positioned for interest rate cuts by Swiss and Swedish central banks this week, following the Federal Reserve’s first rate cut since 2020.
rose 1.9% to $64,253.3 by 00:47 ET (04:47 GMT).
Bitcoin eyes breakout above $65k
The world’s biggest cryptocurrency marked a strong recovery over the past two weeks, as risk appetite was aided chiefly by a bumper interest rate cut by the Fed.
The Fed also announced the start of an easing cycle that is expected to see rates fall by at least 125 basis points by end-2024, according to Citi analysts. Goldman Sachs (NYSE:) expects the Fed to cut rates…
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