Bitcoin

Reserve

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The price of Bitcoin soared back above the make-it-or-break-it $60,000 level earlier this Friday,&nbsp;<a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AETHUSDT" rel="noopener noreferrer nofollow">peaking</a> at $60,018 on the Bitstamp exchange. <img data-entity-type="file" data-entity-uuid="8ca68254-22cf-4eaf-b2ab-0f73e930e1e7" src="https://u.today/sites/default/files/inline-images/234242134213.png">BTC/USD Image by TradingView 
The current month has now turned green with a modest 1.48% gain. This is despite the fact that September is Bitcoin's worst-performing month, with only three years in the green since 2013. In 2023, for instance, the flagship cryptocurrency lost as much as 11.29% during September.&nbsp;
If bulls continue to hold their ground, this could end up bucking the persistent trend.&nbsp;
Bitcoin's recent price spike was likely driven by new developments on the macro front. Market participants are now speculating about the U.S. Federal Reserve implementing a 50-basis point interest rate cut. This came after former New York Federal Reserve President Bill Dudley voiced support for such a move. According to betting site Poymarket, there is currently a 36% chance of the Fed opting for the higher-than-expected rate cut.&nbsp;
Earlier today, MicroStrategy co-founder Michael Saylor also&nbsp;<a href="https://u.today/microstrategy-buys-additional-18300-bitcoin-btc" rel="noopener noreferrer nofollow">announced</a> the acquisition of $1.1 billion worth of Bitcoin. However, the massive purchase, which once again underscored the billionaire's conviction, did not affect the price action in a substantial way.&nbsp;
The largest cryptocurrency has now approached a crucial resistance zone. According to pseudonymous trader Ali, the price of Bitcoin could potentially surge to $64,000 if bulls manage to maintain their momentum.&nbsp;
Christopher Burniske, partner at VC firm Placeholder, has opined that&nbsp;<a href="https://u.today/bitcoin-decouples-for-gold-key-reason-why" rel="noopener noreferrer nofollow">Bitcoin</a> is now "getting its mojo back" in a recent social media post.

Bulls Back in Driver's Seat as BTC Reclaims $60K

U_Today

Other articles published on Sep 13, 2024

Kraken Demands Jury Trial to Fight SEC’s Securities Claims

Bitcoins $107,558 by December 2024 and January 2025, Analyst’s Forecast Ignites Bullish Sentiment...

Circle Enhances Web3 Tools with USDC Integration on Arbitrum

Hamster Combat Engages Players to Earn Cryptocurrency through Fun Gameplay

Solana Trader Who Made $50M on SHIB Foresees a 9,000% Surge for This $0.03 AI Token

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!