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Celestia, Jasmy, Pepe, MOTHER Iggy lead as Bitcoin hits $60k
The post Celestia, Jasmy, Pepe, MOTHER Iggy lead as Bitcoin hits $60k appeared on BitcoinEthereumNews.com. Cryptocurrencies are largely in the green Saturday as traders anticipate the Federal Reserve will cut interest rates next week and Bitcoin retests the crucial resistance point at $60,000. Bitcoin price rose to $60k Celestia (TIA) rose by 12% to $4.50, reaching a high of $4.59 — its highest swing since Aug. 31 Popcat (POPCAT) jumped to $0.80, 71% above its lowest level this month. Pepe (PEPE), the popular meme coin, rose by 6% while JasmyCoin (JASMY) MOTHER Iggy (MOTHER) rose by over 5%. Altogether, the market cap of all coins tracked by CoinGecko jumped to over $2.20 trillion. This recovery coincided with the performance across other assets. Gold jumped to a record high of $2,580 while American equities continued their rebound. The Dow Jones rose by 0.80% while the S&P 500 and Nasdaq 100 indices rose by 0.55% and 0.60%, respectively. The performance happened after the US published encouraging inflation data on Wednesday, raising the chances that the Federal Reserve will start cutting interest rates on Sep. 18. The data showed that the headline consumer inflation dropped to 2.5%, its lowest level in over two years. Risky assets like crypto are expected to do well should the Fed cut rates, as they did in 2020 and 2021; they crashed when interest rates spiked in 2022. MicroStrategy continued accumulating BTC Bitcoin also rose after Michael Saylor revealed that MicroStrategy had acquired an additional 18,300 coins worth $1.1 billion. It is the biggest corporate holders of Bitcoins with 244,800 in its portfolio. It also jumped as signs showed that whales and sharks were accumulating the coin. As we wrote, the volume of Bitcoin in exchanges continued falling, hitting the lowest level in years. ???? Bitcoin is within inches of regaining the coveted $60K market value for the first time since falling below…
The post Celestia, Jasmy, Pepe, MOTHER Iggy lead as Bitcoin hits $60k appeared on BitcoinEthereumNews.com.
Cryptocurrencies are largely in the green Saturday as traders anticipate the Federal Reserve will cut interest rates next week and Bitcoin retests the crucial resistance point at $60,000. Bitcoin price rose to $60k Celestia (TIA) rose by 12% to $4.50, reaching a high of $4.59 — its highest swing since Aug. 31 Popcat (POPCAT) jumped to $0.80, 71% above its lowest level this month. Pepe (PEPE), the popular meme coin, rose by 6% while JasmyCoin (JASMY) MOTHER Iggy (MOTHER) rose by over 5%. Altogether, the market cap of all coins tracked by CoinGecko jumped to over $2.20 trillion. This recovery coincided with the performance across other assets. Gold jumped to a record high of $2,580 while American equities continued their rebound. The Dow Jones rose by 0.80% while the S&P 500 and Nasdaq 100 indices rose by 0.55% and 0.60%, respectively. The performance happened after the US published encouraging inflation data on Wednesday, raising the chances that the Federal Reserve will start cutting interest rates on Sep. 18. The data showed that the headline consumer inflation dropped to 2.5%, its lowest level in over two years. Risky assets like crypto are expected to do well should the Fed cut rates, as they did in 2020 and 2021; they crashed when interest rates spiked in 2022. MicroStrategy continued accumulating BTC Bitcoin also rose after Michael Saylor revealed that MicroStrategy had acquired an additional 18,300 coins worth $1.1 billion. It is the biggest corporate holders of Bitcoins with 244,800 in its portfolio. It also jumped as signs showed that whales and sharks were accumulating the coin. As we wrote, the volume of Bitcoin in exchanges continued falling, hitting the lowest level in years. ???? Bitcoin is within inches of regaining the coveted $60K market value for the first time since falling below…
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