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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.
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BlackRock's IBIT • 25%
ProShares Bitcoin Strategy ETF • 25%
Valkyrie Bitcoin Strategy ETF • 25%
Other • 25%
ProShares Bitcoin Strategy ETF • 25%
Grayscale Bitcoin Trust • 25%
Valkyrie Bitcoin Strategy ETF • 25%
Other • 25%
Bitcoin ETFs • 25%
Ethereum ETFs • 25%
Other Cryptocurrency ETFs • 25%
Equal or No clear leader • 25%
Ethereum • 25%
Bitcoin • 25%
Both Equal • 25%
Neither • 25%
BlackRock ETF • 25%
Franklin Templeton ETF • 25%
VanEck ETF • 25%
Other • 25%
BlackRock's $ETHA outperforms • 25%
Another major ETF outperforms • 25%
All perform similarly • 25%
None outperform significantly • 25%
Bitcoin ETFs • 25%
Ethereum ETFs • 25%
Equal AUM • 25%
Other Cryptocurrency ETFs • 25%
BlackRock • 33%
Fidelity • 33%
Other • 34%
iShares Bitcoin Trust ($IBIT) • 25%
Fidelity Wise Origin Bitcoin Fund ($FBTC) • 25%
Grayscale Bitcoin Trust ($GBTC) • 25%
Other • 25%
Grayscale Ethereum ETF • 25%
ProShares Ethereum ETF • 25%
BlackRock iShares Ethereum Trust • 25%
Other • 25%
BlackRock • 13%
Fidelity • 13%
Franklin Templeton • 13%
VanEck • 13%
Invesco Galaxy • 13%
21Shares • 13%
Bitwise • 13%
Grayscale • 13%
BlackRock • 13%
Fidelity • 13%
Franklin Templeton • 13%
VanEck • 13%
Invesco Galaxy • 13%
21Shares • 13%
Bitwise • 13%
Grayscale • 13%
ProShares Bitcoin ETF • 25%
VanEck Bitcoin ETF • 25%
Invesco Bitcoin ETF • 25%
Other • 25%