Bitcoin reclaims $29,500 as meme tokens rocket higher Bitcoinprice BTC crypto
- Financial assets from cryptocurrencies to stocks rallied on Friday as the latest U.S. jobs data showed the labor market remains strong, giving investors hope that the Fed may pause its interest rate hikes at the Federal Open Market Committee meeting next month.
Market analyst Michaël van de Poppe agreed with this sentiment and posted the following tweet noting that if BTC can hold above $29,100, there’s a good chance the bulls could attempt to push the top crypto to a new 2023 high in the coming weeks.Things are heating up again. Morch said that a U.S. government default has the potential to negatively impact the price of Bitcoin and other cryptocurrencies as investors look to de-risk.
“This is backed up by data showing that Bitcoin has again set a new positive record in daily transaction volumes which is an indicator that more and more people see BTC – and other cryptocurrencies - as practical payment tools and not just a store of value,” he said.
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