$BTC Update đ
Bitcoin rose as much as 2.4% to $85,594 today, before settling back to around $83,400.
đ What's driving it: New inflation data (called PCE) came in softer than expected (3%) â this lowered expectations that the Fed will raise interest rates in October, which usually makes investors more willing to buy riskier assets like Bitcoin.
đ Stocks reacted the same way â the S&P 500 and Nasdaq also rose today on the same news.
đŻ Key levels: $82Kâ$83K is acting as support, with $85K as the level to watch next.
đ° Despite a recent exchange security scare (Bitget), crypto ETFs still pulled in $2.39 billion this week â institutional demand remains strong.
â ïž Crypto is highly volatile â only invest what you can afford to lose. Not financial advice.
$BTC
Bitcoin rose as much as 2.4% to $85,594 today, before settling back to around $83,400.
đ What's driving it: New inflation data (called PCE) came in softer than expected (3%) â this lowered expectations that the Fed will raise interest rates in October, which usually makes investors more willing to buy riskier assets like Bitcoin.
đ Stocks reacted the same way â the S&P 500 and Nasdaq also rose today on the same news.
đŻ Key levels: $82Kâ$83K is acting as support, with $85K as the level to watch next.
đ° Despite a recent exchange security scare (Bitget), crypto ETFs still pulled in $2.39 billion this week â institutional demand remains strong.
â ïž Crypto is highly volatile â only invest what you can afford to lose. Not financial advice.
$BTC