Bitcoin rallies nearly 50% from under $58,000 as Fed volatility looms

  • Bitcoin has rallied nearly 50% from recent lows below $58,000, while smaller coins have outperformed it.
  • $80,000 remains the stated floor, with renewed momentum potentially taking bitcoin toward $90,000.
  • The Federal Reserve has raised rates once this month under chair Kevin Warsh.

Bitcoin has rallied nearly 50% from recent lows below $58,000, although smaller coins have outperformed the largest cryptocurrency. Traders are preparing for renewed volatility as the Federal Reserve weighs further interest-rate increases under new chair Kevin Warsh. Strategy, the bitcoin acquisition company, has resumed buying bitcoin over the past two weeks, making corporate treasury demand another key variable. This week’s data include August core PCE (personal consumption expenditures), the Fed’s preferred inflation gauge, second-quarter GDP and September employment figures. Analysts say a combination of hotter inflation and weaker payroll growth could complicate the Fed’s policy decision ahead of its October 27-28 meeting. Bitcoin’s immediate technical test is whether $80,000 holds as support or momentum pushes the price toward $90,000.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.