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<p><strong>Bitcoin’s value has surged by 6.47% due to positive news about the Federal Reserve’s interest rate plans and strong labor market reports. This indicates that investors are feeling more confident about the cryptocurrency.</strong></p><h2 id="header-0">Claim Instant $200 Worth Of DunkiMunki New Memecoins Free On <a href="https://dunkimunki.xyz/" rel="noopener noreferrer nofollow">www.DunkiMunki.xyz</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Untitled-design.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>Bitcoin’s recent 6.47% surge is fueled by growing optimism, propelled by positive macroeconomic indicators. The uptick in the U.S. M2 money supply, its first rise since November 2022, historically correlates with <a href="https://cryptosheadlines.com/galaxy-digital-reports-134-million-profit-in-first-quarter-amid-strong-crypto-market-performance/" rel="noopener noreferrer nofollow">strong performances in the cryptocurrency market</a>. Furthermore, doubts surrounding the tech sector’s growth trajectory, highlighted by Apple’s significant buyback, are prompting <a href="https://cryptosheadlines.com/eys-paul-brody-institutional-investors-seeking-bitcoin-in-high-demand/" rel="noopener noreferrer nofollow">investors to seek refuge in alternative assets such as Bitcoin</a>.</p><h3 id="strong-bitcoin-surges-amidst-favorable-economic-data-strong"><strong>Bitcoin Surges Amidst Favorable Economic Data</strong></h3><p>In the past 24 hours, Bitcoin (BTC) has seen a notable 6.47% price hike, despite struggles to maintain levels above $63,000. This surge coincides with fresh macroeconomic insights, shaping investor hopes for a more accommodating monetary policy from the U.S. Federal Reserve (Fed). Steady jobless claims and potential interest rate cuts have lifted market sentiment.</p><p>The U.S. Department of Labor reported consistent jobless claims at 208,000 for the week ending April 27, matching lows seen since mid-February and indicating ongoing labor market vitality. Additionally, the Employment Cost Index rose by 4.2% in the first quarter year-over-year, reinforcing <a href="https://cryptosheadlines.com/cardano-ada-sees-1-1-million-inflow-boosting-investor-confidence/" rel="noopener noreferrer nofollow">investor confidence</a>. These indicators fuel growing speculation among traders that the <a href="https://cryptosheadlines.com/fidelity-says-lower-fed-interest-rates-could-benefit-defi-and-stablecoins/" rel="noopener noreferrer nofollow">Fed might slash interest rates</a> by the end of 2024, creating a favorable climate for risk assets like cryptocurrencies.</p><p>Market participants are now estimating a 61% likelihood that the Fed will lower rates below 5.00% by their December 18 meeting, a significant jump from 40% just a week earlier. This change in outlook is crucial, as reduced yields on fixed-income investments often prompt capital migration towards higher-return assets such as stocks, commodities, and cryptocurrencies.</p><h2 id="header-1">Claim Instant $200 Worth Of DunkiMunki New Memecoins Free On <a href="https://dunkimunki.xyz/" rel="noopener noreferrer nofollow">www.DunkiMunki.xyz</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Untitled-design.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><h3 id="strong-positive-trends-in-money-supply-boost-bitcoin-confidence-strong"><strong>Positive Trends in Money Supply Boost Bitcoin Confidence</strong></h3><p>The recent uptick in the U.S. M2 money supply, encompassing cash, savings, and short-term bank deposits, marks its first rise since November 2022. Historically, an expanding money supply has been associated with robust performances in the cryptocurrency market. Previous bull markets in 2014, 2017, and 2021 followed similar patterns, indicating potential for the current market.</p><p><a href="https://cryptosheadlines.com/cryptocurrency-market-update-ethereum-surges-sol-ton-matic-icp-near-see-gains/" rel="noopener noreferrer nofollow">Also Read:   Cryptocurrency Market Update: Ethereum Surges &amp; Bitcoin Targets $64K; SOL- TON- MATIC- ICP- NEAR See Gains</a></p><p>Bitcoin’s market capitalization currently stands at approximately $1.2 trillion. Considering the roughly $6 trillion held in money market funds, even a modest 1% shift towards <a href="https://cryptosheadlines.com/cryptocurrency-market-update-ethereum-surges-sol-ton-matic-icp-near-see-gains/" rel="noopener noreferrer nofollow">Bitcoin would inject $60 billion into the cryptocurrency market</a>. Such trends are crucial as they hint at a broader <a href="https://cryptosheadlines.com/us-presidential-candidate-vivek-ramaswamy-to-accept-bitcoin-donations-for-campaign/" rel="noopener noreferrer nofollow">acceptance and integration of Bitcoin</a> into diverse investment portfolios.</p><p>According to data from Farside Investors, total net <a href="https://cryptosheadlines.com/standard-chartered-spot-bitcoin-etfs-may-drive-100b-inflows-propel-btc-to-200k-by-2025/" rel="noopener noreferrer nofollow">inflows into U.S. spot Bitcoin</a> exchange-traded funds (ETFs) have surpassed $11.2 billion since their inception in January. This significant influx underscores the <a href="https://cryptosheadlines.com/bitcoin-grows-for-four-months-despite-banking-crisis/" rel="noopener noreferrer nofollow">growing interest and confidence among investors in Bitcoin</a> as a viable asset class.</p><h3 id="strong-grayscale-gbtc-witnesses-net-outflows-amidst-bitcoin-s-rising-tide-strong"><strong>Grayscale GBTC Witnesses Net Outflows Amidst Bitcoin’s Rising Tide</strong></h3><p>Despite the broader uptrend in Bitcoin and the potential for market inflows, Grayscale GBTC experienced net outflows on May 2, diverging from the overall positive trajectory. This occurred within a context where similar funds saw withdrawals totaling $564 million the previous day, impacting entities managed by prominent firms like BlackRock, Fidelity, and ARK 21 Shares.</p><h3 id="strong-tech-sector-skepticism-fuels-renewed-bitcoin-interest-strong"><strong>Tech Sector Skepticism Fuels Renewed Bitcoin Interest</strong></h3><p>Amidst a backdrop of skepticism regarding the sustainability of growth in the tech sector, the renewed interest in Bitcoin among investors gains significance. This skepticism arises following Apple’s recent announcement of a $110 billion stock buyback program, lacking corresponding plans for new product lines or market expansion. Consequently, investors are now exploring alternative avenues to seek high-growth opportunities, with Bitcoin emerging as a favored option.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Why Bitcoin Price is Rising Today

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