Bitcoin

Cryptocurrencies, notably Bitcoin (BTC), surged on Friday, with Bitcoin hitting the $60,000 mark. The market was supported by robust advances in <a href="https://optimisus.com/news/crypto-news/us-spot-bitcoin-etfs-see-over-39-million-net-inflows-this-week/" rel="noopener noreferrer nofollow">traditional markets, including Bitcoin</a>, which recovered from a 1% decline to $57,600 after MicroStrategy announced its purchase of 18,300 BTC for $1 billion.Ethereum&#39;s ether price increased by 2.7%, while crypto analytics firm IntoTheBlock reported that Ethereum&#39;s fee revenue increased by roughly 60% in the last week as a result of blockchain activity.<a href="https://optimisus.com/news/crypto-news/bitcoin-etfs-see-1-2-billion-outflow-in-just-eight-days-as-bitcoins-price-drops-over-18/" rel="noopener noreferrer nofollow">The price action</a> occurred while US equities rose, with the S&amp;P 500 less than 1% from its July record high. Gold continues to set new highs, surpassing $2,600 per ounce for the first time ever. The decrease in the US dollar against key currencies aided the advance across asset groups.Bitcoin&#39;s surge may have more fuel in the tank, according to its daily cycle analysis, which indicates that prices move in waves with a particular frequency between local peaks and troughs. The Federal Open Market Committee&#39;s (FOMC) meeting next week is projected to be the Fed&#39;s first interest rate drop since 2020.Despite the likelihood of easier monetary policy, concerns of a recession weigh on the market, according to crypto investment firm Ryze Labs. If the US economy remains resilient and avoids a recession, risk assets will likely continue to rise.

Bitcoin Hits $60K and Likely Has More Room to Rally

Optimisus

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