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<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin price surged near $65,000 today, amidst optimistic US economic data.</li> 
 <li>Q2 GDP confirms higher economic growth compared to Q1.</li> 
</ul> 
<p>Today, September 26, Bitcoin recorded a significant price surge. At the moment of writing this article, BTC is trading near $65,000, up by 2% in the past 24 hours.</p> 
<figure id="attachment_51109" aria-describedby="caption-attachment-51109" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66.jpeg"><img loading="lazy" decoding="async" class="wp-image-51109 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Trades Near $65K, As US Economy Shows 3% Annualized Growth 17" srcset="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-66-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-51109" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>The price rise for the digital asset comes following an earlier price drop to $62,000 levels, earlier today.</p> 
<p>Bitcoin’s price rally debuted during the past week, ahead of the US FOMC meeting, and<a href="https://crypto.ro/en/news/bitcoin-price-above-62k-following-us-feds-50-bps-rate-cut-decision/"> continued</a> after the Federal Reserve decided to slash interest rate cuts by 50 bps.</p> 
<p>Today, economic data in the US delivered optimistic results.</p> 
<h2 id="us-economy-grew-at-a-3-annualized-pace-in-q2">US Economy Grew at a 3% Annualized Pace in Q2</h2> 
<p>According to official data, the US economy showed stronger growth than Wall Street expected.</p> 
<p>The Bureau of Economic Analysis’s third estimate of the second quarter domestic product (GDP) was unchanged from the second estimate which showed a 3% annualized growth.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://www.bea.gov/system/files/gdp2q24_adv-chart-01.PNG" alt="BEA.gov data" width="1404" height="649" title="Bitcoin Price Trades Near $65K, As US Economy Shows 3% Annualized Growth 18">
 <figcaption class="wp-caption-text">
  BEA.gov data
 </figcaption>
</figure> 
<p>Economists previously estimated a 2.9% reading for the annualized growth, but the third estimate for Q2 regarding GDP confirms that economic growth was higher compared to the 1.4% annualized growth in Q1 2024.</p> 
<p>Oxford Economics deputy chief economist Michael Pearce wrote in a note to clients today, that the revisions only strengthen their conviction that the US economy will continue to expand at a decent price over the coming year.</p> 
<p>This suggests that labor market conditions are unlikely to deteriorate significantly from here on, he said.</p> 
<h2 id="today-s-unemployment-claims-fall-below-expectations">Today’s Unemployment Claims Fall Below Expectations</h2> 
<p>It’s also worth noting that<a href="https://www.dol.gov/ui/data.pdf" rel="nofollow noopener" target="_blank"> data</a> from the US Labor Department released today, showed 218,000 unemployment claims for the previous week, below Wall Street’s expectations of 223,000.</p> 
<p>The results marked the lowest level of weekly claims since the middle of May.</p> 
<p>Last week, following the rate cut decision, the Fed Chair, Jerome Powell, said that the US economy is growing at a solid pace and inflation is coming down.</p>

Bitcoin Price Trades Near $65K, As US Economy Shows 3% Annualized Growth

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