Bitcoin

Momentum

Reserve

<p>The crypto market starts the week on a high note, driven by better-than-expected US economic indicators. Bitcoin, the sector’s locomotive, has crossed the $64,000 mark, reaching unprecedented heights in several months.</p>
<h2 id="h-a-favorable-economic-situation-for-bitcoin">A Favorable Economic Situation for Bitcoin</h2>
<p>The release of last Friday’s US job report was unexpected. <a href="https://www.cointribune.com/en/decrease-in-inflation-in-the-united-states-here-are-the-potential-consequences-for-bitcoin/" rel="noopener noreferrer nofollow">The unemployment rate fell to 4.05% in September</a>, well below the 4.2% anticipated by analysts. This news sparked a wave of optimism on the financial markets, from which Bitcoin greatly benefited.</p>
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<p>“<em>These figures strengthen the prospect of a vigorous economic recovery by the end of the year</em>,” <a href="https://www.blockhead.co/2024/10/07/bitcoin-surges-amid-positive-economic-data/" rel="noopener noreferrer nofollow">explains</a> Marc Durand, economist at Crypto Insights. “<em>In this context, investors are turning towards high-potential assets like Bitcoin</em>.”</p>
<p>The <a href="https://www.cointribune.com/en/stock-market-the-rate-cuts-hide-a-storm/" rel="noopener noreferrer nofollow">recent interest rate cut</a> decided upon by the US Federal Reserve has also played a crucial role. By making borrowing less expensive, this measure stimulates economic activity and encourages risk-taking. Cryptos, perceived as speculative investments, benefit directly.</p>
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<h2 id="h-a-clear-horizon-for-the-end-of-the-year">A Clear Horizon for the End of the Year</h2>
<p>Analysts agree that <a href="https://www.cointribune.com/en/unbeatable-bitcoin-its-dominance-explodes-to-54/" rel="noopener noreferrer nofollow">the upward trend of Bitcoin should continue</a>. Sophie Martin, strategist at Digital Assets Research, predicts: “<em>Bitcoin could quickly test the $68,000 resistance. If this level is breached, we might see a new wave of institutional buying</em>.”</p>
<p>The approach of the November US elections is another factor to watch closely. Historically, electoral periods have often been synonymous with increased market volatility.</p>
<p>In summary, the last quarter looks exciting for Bitcoin. Between economic recovery, accommodative monetary policy, and election deadlines, all the ingredients seem gathered for an explosive end of the year on the <a href="https://www.cointribune.com/en/the-israel-iran-conflict-could-drop-bitcoin-to-55000/" rel="noopener noreferrer nofollow">crypto market</a>.</p>

Bitcoin Regains Its Bullish Momentum Driven By Positive US Indicators

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