Bitcoin Price Rebounds to $77,538 Amid Lower Bets on Interest Rate Hikes

The Bitcoin price rebounded on Thursday, reaching $77,538 in 24 hours and recovering some of its recent losses after falling to around $76,000.

The recovery comes as investors reduce their bets on higher interest rates from the Federal Reserve this month, with a partial relief in the dollar and Treasury yields.

Analysts from Bitfinex noted that the average cost for active investors on the network is near $76,350, which may help explain the defense of the range between $76,000 and $77,000 over the past few days.