Nevada

Donald Trump

Bitcoin

Bitcoin (BTC) has been making waves with recent price movements, climbing by 8% to exceed $73,000 before pulling back to around $72,000. Investors are closely watching to see if this momentum will continue or if further adjustments lie ahead. 
<h2 id="factors-fueling-bitcoin-s-rise">Factors Fueling Bitcoin’s Rise</h2> 
Several factors are driving Bitcoin’s surge: robust demand for U.S. spot Bitcoin ETFs, anticipation of a new global monetary easing cycle, and increased chances for pro-crypto candidate Donald Trump in the U.S. presidential election. Key states like Nevada and Pennsylvania may play decisive roles in the election, and as the race concludes next week, markets are eager to see if the so-called “Trump Trade” will sustain Bitcoin’s momentum or if unforeseen shifts could emerge. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-6954" src="https://deythere.com/wp-content/uploads/2024/10/BTC_7D_graph_coinmarketcap-860x573-1.jpeg" alt="" width="860" height="573" srcset="https://deythere.com/wp-content/uploads/2024/10/BTC_7D_graph_coinmarketcap-860x573-1.jpeg 860w, https://deythere.com/wp-content/uploads/2024/10/BTC_7D_graph_coinmarketcap-860x573-1-300x200.jpeg 300w, https://deythere.com/wp-content/uploads/2024/10/BTC_7D_graph_coinmarketcap-860x573-1-768x512.jpeg 768w" sizes="(max-width: 860px) 100vw, 860px"> 
<h2 id="fed-rate-cut-outlook-awaits-jobs-data">Fed Rate Cut Outlook Awaits Jobs Data</h2> 
The U.S. Non-Farm Payrolls data, a crucial economic indicator, will be released this Friday. Analysts anticipate around 110,000 job additions, which is nearly half of the previous report’s figure. This report is crucial ahead of next week’s Federal Reserve meeting, with markets assigning a 96.5% probability to a 25-basis-point rate cut in November. Expectations are also high for another potential rate cut in December, with a 75% chance. This jobs data will play a key role in confirming these rate cut prospects. 
<h2 id="big-tech-earnings-could-steer-markets">Big Tech Earnings Could Steer Markets</h2> 
This week, tech giants like Alphabet, Apple, Meta, Amazon, and Microsoft will release quarterly earnings. While these companies are expected to post profit increases of around 19-20%, this represents the slowest growth in six quarters. These earnings reports, though uncertain in their market impact, are pivotal for gauging broader market sentiment, which could ripple into the crypto market as well. 
For more in-depth analysis on how Bitcoin’s recent trends align with economic and market events, Dey There provides up-to-the-minute insights. 
Bitcoin, Donald Trump, spot Bitcoin ETF, Fed rate cut, Non-Farm Payrolls

Bitcoin Surpasses $73,000 with Trump Momentum, Then Pulls Back! What’s Next?

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