Bitcoin Price Prediction: Rally Towards $75,000 Amid Market Optimism & Key Events
cryptonews.comBitcoin‘s price went up by more than 2.50% on Wednesday to trade near $73,000. This uptick occurs as Asian stocks reach a seven-month apex, undeterred by the slightly higher U.S. inflation rates which have spurred investor bets against mid-year interest rate adjustments.
Investors sentiment suggests interest rates will not change until mid-year. Big tech companies like Oracle and Nvidia helped push the S&P 500 to new highs.
This shows the overall market is trading with a bullish bias. Lastly, with a 68% chance of a rate cut in June, riskier assets like Bitcoin seem promising.
Asia’s equity markets have ascended to heights unseen in seven months, echoing Wall Street’s soaring trajectory to uncharted territories. This surge defies slightly elevated U.S. inflation figures, as investors wager that it won’t impede potential interest rate reductions midway through the year. Optimism stems partly from China’s bolstering of its real estate sector, notably aiding industry giant China Vanke. The MSCI Asia-Pacific index, excluding Japan, has climbed 0.2%, reaching its zenith since August’s close.The possibility of a rate reduction in June remains substantial at 68%, even after U.S. Treasury yields increased following the inflation report.
Stock markets hit seven-month highs, buoyed by record levels on Wall Street.#StockMarket #WallStreet #InterestRateshttps://t.co/96IMYOAnCM
— Zee Business (@ZeeBusiness) March 13, 2024
The tech sector’s rally, spearheaded by Oracle and Nvidia, propelled the S&P 500 higher, signaling growing market optimism. This sentiment could potentially drive investments toward riskier assets like Bitcoin.
However, minor fluctuations in U.S. Treasury yields might temporarily redirect
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