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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.
Bitcoin Nears Peak: The cryptocurrency approached its all-time high of $69,000, with bullish bets driving the price close to this record.
Market Optimism: Open interest in Bitcoin futures hit an all-time high, suggesting new money entering the market and contributing to the price surge.
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.
Investor Actions: Over $60 million in short positions against Bitcoin were liquidated, indicating a strong bullish sentiment in the market.
Economic Projections: The Fed's economic projections for 2024 include three rate cuts, which could influence Bitcoin's performance in the coming year.