COINOTAG news, September 27, according to Bloomberg, Bitcoin is set to achieve one of the most significant September gains on record, driven by a global wave of interest rate reductions, particularly the United States’ proactive shift towards more accommodating monetary policies. Bloomberg data indicates that Bitcoin has appreciated by over 10% this month, contrasting with an average decline of 5.9% each September over the past decade. The small token index surged more than 20%, suggesting that the more lenient financial climate is invigorating riskier segments of the crypto market.
A report from cryptocurrency exchange Kraken emphasized that if Bitcoin does not “decisively” breach the $65,000 threshold, it could signify an impending period of weakness. Alongside monetary policy shifts, the digital asset sector is closely monitoring the outcome of the US presidential election. Many industry executives anticipate that cryptocurrency regulations in the United States will become clearer post-election, which is expected to enhance market sentiment.