Bitcoin approached the $60,000 mark as Wall Street opened on September 13. On the same day, gold hit a record high of $2,585 per ounce. These gains were supported by positive US macroeconomic data and expectations of a Federal Reserve rate cut.

Bitcoin reached 10-day highs on Bitstamp, according to Cointelegraph Markets Pro and TradingView data. The US stock market also showed slight gains.

Analyst Rekt Capital noted that Bitcoin made a significant bounce from the lower end of its falling price channel. Bitcoin closing the week above $58,150 could continue its uptrend.

Bitcoin’s monthly performance is only slightly down from September, which was generally down 7%. Analyst CrypNuevo said that Bitcoin is in a slow but steady uptrend.

Crypto Vikings noted that Bitcoin is about to reclaim the 200-period exponential moving average on 4-hour charts and expects a big breakout.

Ahead of the Federal Reserve’s September 18 meeting, CME Group’s FedWatch Tool is showing a 0.25% rate cut expectation.