Donald Trump

Bitcoin

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-past-73000-due-to-market-drivers/" data-wpel-link="internal">Bitcoin Surges Past $73,000 Due to Market Drivers</a><br></p>
<p style="text-align: justify">Recently, Bitcoin (BTC) has drawn attention with its price movements. The leading <a href="https://en.coin-turk.com/worldcoin-foundation-announces-wave1-community-grants-recipients/" data-wpel-link="internal">cryptocurrency</a> experienced an 8% rise, surpassing the $73,000 mark, which excited traders. Since then, Bitcoin has slightly retreated and is currently trading around $72,000.</p> 
<h2 style="text-align: justify" id="strong-factors-contributing-to-bitcoin-s-rise-strong"><strong>Factors Contributing to Bitcoin’s Rise</strong></h2> 
<p style="text-align: justify">Several factors are driving the increase in Bitcoin’s price, including strong demand for spot Bitcoin ETFs in the U.S., the initiation of a new monetary expansion cycle in major economies, and the rising chances of crypto-friendly candidate Donald Trump in the U.S. presidential elections.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-401994" src="https://coin-turk.com/wp-content/uploads/2024/10/BTC_7D_graph_coinmarketcap.jpeg" alt="" width="809" height="539"></p> 
<p style="text-align: justify">Critical states in the U.S., such as Nevada and Pennsylvania, are believed to influence the election outcome. As the presidential race approaches its conclusion next week, markets are curious whether this momentum, dubbed the “Trump Trade,” will continue or if unexpected developments will arise.</p> 
<h2 style="text-align: justify" id="fed-rate-cut-expectations-will-clarify-with-upcoming-labor-data">Fed Rate Cut Expectations Will Clarify with Upcoming Labor Data</h2> 
<p style="text-align: justify">The non-farm payroll data, a significant indicator of the U.S. labor market, will be released this Friday. Market expectations suggest an employment increase of around 110,000, which is approximately half of the previous reported figure.</p> 
<p style="text-align: justify">The data released on Friday will shape market expectations regarding a rate cut ahead of the Federal Reserve (Fed) meeting next week. Currently, the likelihood of a 25 basis point rate cut in November is estimated at 96.5%, with expectations for another cut in December standing at around 75%. This labor market data is crucial for confirming these expectations.</p> 
<h2 style="text-align: justify" id="strong-tech-giants-earnings-reports-may-influence-markets-strong"><strong>Tech Giants’ Earnings Reports May Influence Markets</strong></h2> 
<p style="text-align: justify">This week, quarterly results from tech giants like Alphabet, Apple, Meta, Amazon, and Microsoft will be announced. These companies are expected to see an average profit increase of around 19-20%, although this marks the slowest growth rate in the last six quarters.</p> 
<p style="text-align: justify">While the impact of the upcoming quarterly earnings reports on the stock markets remains uncertain, they will serve as significant indicators for overall market sentiment. These results are also expected to influence the <a href="https://en.coin-turk.com/bitcoin-maintains-momentum-above-65000/" data-wpel-link="internal">cryptocurrency market</a>.</p> 
<p>The post <a href="https://en.coin-turk.com/bitcoin-surges-past-73000-due-to-market-drivers/" data-wpel-link="internal">Bitcoin Surges Past $73,000 Due to Market Drivers</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Surges Past $73,000 Due to Market Drivers

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