Bloomberg: Global interest rate cuts drive Bitcoin to have one of its best Septembers in history

According to Bloomberg, influenced by the global wave of interest rate cuts and the United States' active shift towards a loose monetary policy, Bitcoin is expected to record one of its largest increases in September in history. Data compiled by Bloomberg shows that so far this month, Bitcoin's price has risen more than 10%, while it has averaged a decline of 5.9% in September over the past decade. The small token index has climbed more than 20%, indicating that a relaxed financial environment is activating high-risk sectors in the cryptocurrency market. To support economic growth, institutions such as the Federal Reserve and European Central Bank have lowered borrowing costs in September. Investors expect more stimulus measures to be introduced, hence they are rushing to buy assets ranging from stocks to gold to cope with a looser monetary environment.

Sean McNulty, head trader at liquidity provider Arbelos Markets said: "For the Fed, Bitcoin still has the highest correlation with monetary policy. The easing policies of other central banks definitely help." Caroline Mauron, co-founder of Orbit Markets stated that due to a large number of option contracts expiring on Friday, $65k level could hold steady for several hours.