Bitcoin shows growth on September 12 amid expectations of Fed rate cuts

On Friday, September 12, Bitcoin rose by 1.2% to $115,604.3 at 01:56 AM ET (05:56 GMT). This was reported by UNN with reference to investing.com.

Details

Bitcoin rose 4.9% this week, showing some demand after falling from mid-August record highs.

Cryptocurrency prices rose on Friday as risk appetite was bolstered by persistent bets that the Fed would cut interest rates next week. Altcoins also had a strong week after several weeks of sharp losses.

Ether, the world's second-largest cryptocurrency, rose 2.6% to $4,552.31 and was up 6.6% for the week. XRP rose 2.2% to $3.0658 and was up 8.8% for the week.

Cardano and Solana rose 1.8% and 6.7% respectively. Among meme tokens, Dogecoin rose 5% and $TRUMP rose 0.9%.

Recall

Fintech expert and co-founder of the Ukrainian fintech ecosystem Concord Fintech Solutions Olena Sosedka, in a comment for UNN, noted that cryptocurrency has long ceased to be a purely speculative asset and has become part of the global macro-financial system. According to her, digital assets sensitively react to positive expectations, especially when it comes to a possible easing of regulatory pressure or strengthening of trust from institutions.

Sosedka emphasized that the growth affected not only Bitcoin - the prices of other cryptocurrencies, including Ethereum, also rose and are approaching $3,000 per coin.

Bitcoin is an indicator not only of financial but also of political conjuncture. Since digital assets are not controlled by governments, they are particularly sensitive to signals from major players