Crypto
Bitcoin Price Surges Above $80,000 Amid Easing Fed Rate Hike Expectations
Bitcoin's price surged above $80,000 on Thursday, reaching $80,270.69 and increasing by 2.9% over the past 24 hours.
The rally was driven by easing Federal Reserve rate hike expectations, which lifted risk assets across markets.
The ISM Services PMI came in at 55.4, exceeding the forecast of 54.3 and indicating continued expansion in the US economy.
Technical analysts had predicted a breakout above $79,500 with support near $76,700, which appears to have occurred.