The crypto market is starting the week in style, driven by better-than-expected American economic indicators. Bitcoin, the locomotive of the sector, crossed the $64,000 mark, reaching highs not seen in several months.
An economic situation favorable to Bitcoin
The publication last Friday of the employment report in the United States created a surprise. The unemployment rate fell to 4.05% in September, well below the 4.2% expected by analysts. This news breathed a wave of optimism into the financial markets, from which Bitcoin benefited greatly.
“ These figures reinforce the prospect of a vigorous economic recovery by the end of the year “, explain Marc Durand, economist at Crypto Insights. “ In this context, investors are turning to high-potential assets like Bitcoin. »
The recent cut in interest rates by the US Federal Reserve 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 from this.
A clear horizon for the end of the year
Analysts agree that Bitcoin's bullish trend is likely to continue. Sophie Martin, strategist at Digital Assets Research, predicts: “ Bitcoin could quickly test the resistance of $68,000. If this level is crossed, we could see a new wave of institutional purchases.”
Another factor to watch closely is the approach of the US elections in November. Historically, election periods have often been synonymous with increased market volatility.
In short, the last quarter promises to be exciting for Bitcoin. Between economic recovery, accommodating monetary policy and electoral deadlines, all the ingredients seem to be there for an explosive end to the year on the crypto market.
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