{"id":29595,"date":"2024-09-21T14:30:40","date_gmt":"2024-09-21T11:30:40","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29595"},"modified":"2024-09-21T10:06:15","modified_gmt":"2024-09-21T07:06:15","slug":"bitcoin-extends-gains-after-key-central-bank-decisions-surpasses-64k-briefly","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-extends-gains-after-key-central-bank-decisions-surpasses-64k-briefly\/","title":{"rendered":"Bitcoin Extends Gains After Key Central Bank Decisions, Surpasses $64K Briefly"},"content":{"rendered":"

After a string of major central bank decisions including a rate decrease from the U.S. Federal Reserve<\/strong>, a pause from the Bank of England<\/strong>, and a Bank of Japan (BoJ)<\/strong> decision to maintain rates steady on Friday, Bitcoin (BTC)<\/strong> extended its weekly gains to 10%.<\/p>\n

During Asian trading hours on Friday, BTC<\/strong> jumped beyond $64,000<\/strong>; later, it somewhat dipped as the BoJ’s maintained policy served to stabilize markets, thereby preventing a repeat of July’s market turbulence following its unexpected rate rise.<\/p>\n

Positive macroeconomic forecasts, according to market professionals, are encouraging optimism for more volatile assets like Bitcoin. Classic recession indicator, the inverted U.S. 2-year\/10-year Treasury spread, has lately sharpened to +8 basis points, according to traders at QCP Capital. This points to a shift toward risk-on assets and more general market optimism.<\/p>\n

Generally speaking, about future economic downfall, short-term debt displays more than long-term debt suggests. But the steepening points of the growing spread signal to a more positive view, hence lowering worries about a possible economic catastrophe.<\/p>\n

Since Tuesday, open interest in Bitcoin<\/strong> has climbed almost $5 billion, suggesting fresh money entering the market as traders predict further volatility. Information using CoinGlass usually lured toward long positions, traders are driven by aggressive purchasing volume, which has always exceeded selling volume and suggests increasing confidence in continuous upward price momentum.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our<\/span><\/i> Telegram,<\/span><\/i><\/a> YouTube<\/span><\/i><\/a>, and<\/span><\/i> Twitter<\/span><\/i><\/a> channels for the latest<\/span><\/i> news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

After a string of major central bank decisions including a rate decrease from the U.S. Federal Reserve, a pause from the Bank of England, and a Bank of Japan (BoJ) decision to maintain rates steady on Friday, Bitcoin (BTC) extended its weekly gains to 10%. During Asian trading hours on Friday, BTC jumped beyond $64,000;<\/p>\n","protected":false},"author":6,"featured_media":29596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,657,1],"tags":[5435,7721,61,8131],"class_list":["post-29595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-en","category-genel","tag-bank-of-england","tag-bank-of-japan","tag-bitcoin","tag-u-s-federal-reserve"],"yoast_head":"\nBitcoin Extends Gains After Key Central Bank Decisions, Surpasses $64K Briefly - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-extends-gains-after-key-central-bank-decisions-surpasses-64k-briefly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Extends Gains After Key Central Bank Decisions, Surpasses $64K Briefly - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"After a string of major central bank decisions including a rate decrease from the U.S. Federal Reserve, a pause from the Bank of England, and a Bank of Japan (BoJ) decision to maintain rates steady on Friday, Bitcoin (BTC) extended its weekly gains to 10%. 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