Bitcoin Rallies Post-Fed, Hits $65K

Bitcoin Nears Peak: The cryptocurrency approached its all-time high of $69,000, with bullish bets driving the price close to this record.

[{"selector":"#anim-e46fb016-8b22-439c-aacd-fd7a1eef8a62","keyframes":{"transform":["translate3d(-126.53846%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9aa0d9dd-246f-40e7-b924-b8ec373d4c2b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-76957c22-8a76-41ba-b088-95bf254ba56c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Market Optimism: Open interest in Bitcoin futures hit an all-time high, suggesting new money entering the market and contributing to the price surge.

[{"selector":"#anim-7e01af3a-d36e-4163-bb26-7065dd45ddd7","keyframes":{"transform":["translate3d(-136.69355%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7d39ac39-3809-4902-a8b7-19eaa63d84ec","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6f9e6427-da87-4af1-96b4-dc7dbf2c9348","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Fed's Rate Decision: The Federal Reserve's decision to maintain interest rates led to a slight increase in Bitcoin's value, as the rate hold was already priced in by the market.

[{"selector":"#anim-9bcbdeed-fb10-4793-9cb7-cafb5a421798","keyframes":{"transform":["translate3d(-127.41935%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-560cb851-9214-4c69-9a66-2f1c773abc5c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c6dac4e4-f075-4593-9e49-cf7d94baa41b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Investor Actions: Over $60 million in short positions against Bitcoin were liquidated, indicating a strong bullish sentiment in the market.

[{"selector":"#anim-163c5707-8377-4149-afe7-372a3819030b","keyframes":{"transform":["translate3d(-124.40944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-42e4e268-0ec1-422b-8b80-68ec9eb944b0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-22f1b621-8788-467c-ada5-db8f9ee922c7","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Economic Projections: The Fed's economic projections for 2024 include three rate cuts, which could influence Bitcoin's performance in the coming year.

[{"selector":"#anim-4ce91095-72e0-4dad-9d3e-7ad52af0cdfa","keyframes":{"transform":["translate3d(-129.11877%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8fd76efc-5578-4d67-b282-dab86613b1a3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9eff9f00-2915-4a0f-811c-5aad3925820c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]