Bitcoin price began to rise unexpectedly this Saturday and showed an unstoppable movement after Donald Trump was injured during his election campaign and was revealed to be fine. The price rise didn’t stop there and reached a new level at the beginning of the week. Meanwhile, news about the spot Ethereum ETF and today’s FedWatch interest rate cut announcement seem to have had a significant impact on BTC price.
How Much is Bitcoin Worth?
Bitcoin price regained its level from June 21, rising by 2.7% in the last 24 hours to reach $65,070, delighting investors and creating great excitement.
Although the BTC price momentarily fell below $65,000, its rise to this level could be the first steps of a major surge, as this price level was last seen 25 days ago during a downward movement.
With the rise in Bitcoin price, attention turned to market volume and 24-hour trading volume. BTC’s recovery seems to have created a market volume of $1.275 trillion, which had fallen below $1.25 trillion in recent days.
Meanwhile, BTC’s 24-hour trading volume rose by 38% to $42.9 billion, showing high investor interest.
Why is Bitcoin Rising?
Looking at why Bitcoin price is rising, several factors seem to have led to this. First, the positive impact is thought to be due to former US President and presidential candidate Donald Trump being shot but only injured, as he has recently drawn attention with his positive stance on cryptocurrencies.
Additionally, news that the spot Ethereum ETF will start on July 23 is expected to provide a cash flow to the market, which is also considered a factor in the upward trend.
Finally, the 100% expectation of an interest rate cut in September, as announced in the FedWatch data, may have been an important factor in the rise of cryptocurrencies. All these factors combined make the upcoming days a topic of curiosity in the cryptocurrency circles.
