Cryptocurrencies
Bitcoin Flirts With $65,000 on Powell Pivot, Streak of ETF Flows
- Fed Chair Powell’s rate-cut signal lifted a range of assets
- US Bitcoin ETFs achieved a seven-day run of net inflows
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Bitcoin touched $65,000 for the first time in about three weeks, aided by reviving demand for dedicated US exchange-traded funds amid signs that the Federal Reserve is set to loosen monetary policy.
The largest digital asset rose as much as 1.2% to $65,030 on Monday before dipping back to $63,780 as of 9:19 a.m. in New York. The cryptocurrency advanced 7.4% last week, the sharpest increase for such a period since mid-July.