In the last 24 hours, Bitcoin (BTC) price has experienced a significant rise, posting a 6.47% increase. This upward trend occurred despite the cryptocurrency’s struggle to sustain a price above $63,000. The surge aligns with new macroeconomic data, influencing investor expectations of a more accommodating monetary policy from the U.S. Federal Reserve (Fed). Steady jobless claims and the potential for interest rate reductions have buoyed market sentiment.
The U.S. Department of Labor reported that jobless claims held steady at 208,000 for the week ending April 27. This figure matches the lowest levels since mid-February, suggesting ongoing labor market strength. The Employment Cost Index also climbed 4.2% in the first quarter year-over-year, reinforcing investor confidence. This data has led to a growing belief among traders that the Fed may cut interest rates by the end of 2024, fostering a favorable environment for risk assets like cryptocurrencies.
Traders are now pricing in a 61%
We współpracy z: https://coingape.com/here-is-why-bitcoin-btc-price-is-up-today/
