The price of bitcoin rose to $63,932, setting a one-month high amid expectations of a US Federal Reserve rate cut. Other cryptocurrencies showed mixed results, and the market is awaiting speeches by Fed officials and inflation data.
The price of bitcoin reached $61,985 after the Fed cut its interest rate by 50 basis points. The broader cryptocurrency market also rose, but further growth is limited due to cautious economic forecasts.
The price of bitcoin rose by 0. 6% to $59,964 amid expectations of a US Federal Reserve rate cut. Positive data on capital flows into exchange-traded funds and the overall growth of the cryptocurrency market supported market sentiment.
Bitcoin rose to $59,305 after a short-term drop. Investors invested $155 million in ether-related products, while only $13 million came into bitcoin. The market is awaiting US inflation data.
Bitcoin rose to $56,952, continuing its recovery from the fall. The overall growth of cryptocurrencies has slowed down due to economic factors and regulatory uncertainty in the United States.
Exchange-traded funds investing in Ether received $107 million in net inflows on the debut day. The largest volume of subscriptions was recorded by BlackRock's Ethereum Trust, which totaled $267 million.
