New Bitcoin whale spotted as 1,015 BTC went from Binance into their wallet
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Over the past week, the world’s primary cryptocurrency, Bitcoin, has seen a substantial price increase of almost 11% as it soared from $57,600 last Tuesday to the $63,890 zone on Monday. This rally was largely influenced and supported by the large interest rate cut announced by Fed Reserve chairman Jerome Powell at the FOMC meeting on Wednesday.
The interest rate was slashed by 50 basis points, while many expected it to go down only as low as 25 bps. Now, the Chinese central bank has also confirmed its intention to cut multiple interest rates this year. Many financial experts now believe that China’s announcement will become yet another trigger that will propel Bitcoin to reaching new highs, probably even this year.
The most recent all-time high was reached by Bitcoin in March at the $73,750 price level. Currently, BTC is trading 13.82% below that historic price peak. This year, it was reached before the halving took place in April.This amount of BTC is currently worth $5,189,542, while back in 2013 it was the equivalent of $44,707. At the time of this writing, in 2024, BTC is changing hands at $63,320 per coin.Yuri is interested in technology and technical innovations.
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