Arslan Butt Last updated: July 1, 2024 at 13:36 GMT+3 | 3 min read Bitcoin (BTC) began the week on a high note, soaring above $63,335 and hitting an intraday peak of $63,697. This bullish momentum, reflected in the overall crypto market’s significant gains, is attributed to multiple factors. Bets on a September Fed rate cut weakened the US dollar, indirectly bolstering Bitcoin. Additionally, the impending $9 billion Bitcoin payout from Mt. Gox and the EU’s new MiCA regulation further boosted market confidence. Weakening Dollar Boosts Bitcoin as Fed Rate Cut Expectations Rise. The US dollar’s recent decline, fueled by moderated inflation and expectations of Fed interest rate cuts, has provided a significant boost to Bitcoin. Key Factors: Lower Inflation: May’s Personal Cons
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