Bitcoin (BTC) surged 4.75% over the past week, reaching a high of over $64,000. This occurred following the Federal Reserve's decision to cut interest rates by 50 basis points and the SEC's approval of Nasdaq's Bitcoin ETF. Let's delve into the main crypto stories of the past week.
Fed's Rate Cut Boosts Bitcoin
Last week, the Federal Reserve decided to cut interest rates by 50 basis points. This significant market event helped propel Bitcoin to $64,133. Despite the Fed change, Bitcoin's daily price movements remained consistent with its six-month trend.
SEC Approves Nasdaq ETF
A major development was the SEC's approval for listing and trading stock options on BlackRock’s spot Bitcoin ETF on Nasdaq. This allows options trading under the same rules applicable to other ETFs.
Weekly Crypto News Analysis
Bitcoin continues to meet investor expectations despite the Fed's policy change. Here are the top six crypto stories from the past week:
Amid significant events like the Fed's rate cut and the SEC's Nasdaq approval, Bitcoin shows resilience and continues to rise. Stay tuned for more updates to keep informed about all major happenings in the crypto world.
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