Bitcoin Surges to $65,000 Amid Fed Rate Cuts, Marking Strong September for Uptober

Sep 27, 2024, 04:51 AM

Bitcoin has experienced a significant surge in September, reaching $65,000 right on time for Uptober, driven by a global wave of interest-rate cuts, particularly a major rate cut by the Federal Reserve. This performance has led Bitcoin to one of its best September gains ever, despite September generally not being a good month for Bitcoin. Additionally, top crypto ETFs like Blackrock’s IBIT and ETHA have outperformed benchmarks for stocks and bonds. The rise in Bitcoin's value is attributed to a risk-on sentiment, a weaker U.S. dollar, and increased liquidity.