Bitcoin price hits $60,000 - Fed interest rate cut expected

Bitcoin price hits $60,000 - Fed interest rate cut expected

After it looked for a few days as if the Bitcoin price could no longer exceed the $60,000 mark so quickly, today's labor market data has ensured that the psychologically valuable hurdle has been overcome after all. U.S. labor market data was worse than expected, with just 175,000 new jobs added in April compared to the expected 238,000. Despite these poor numbers, the price of Bitcoin rose after the release, which came as a surprise to many. The price reacted positively and broke through the $60,000 mark within a short period of time and finally climbed above $61,000.

The reaction to the labor market data has also increased hopes on Wall Street that interest rates will be cut soon, after the US Federal Reserve recently decided to leave interest rates unchanged for the time being. Analysts are confident that the Bitcoin price will continue to rise after previously falling from over $73,000 to around $56,000. Many expect Bitcoin to rise above $100,000 by the end of the year, which could also have a positive impact on altcoins.

Amid these developments, investors are increasingly turning to 99Bitcoins, a learning platform that is now causing a stir with the new $99BTC token. The token is currently in pre-sale and is enjoying great popularity as the developers have built a strong brand. Investors have the opportunity to purchase the token at a fixed price before it is listed on crypto exchanges. With an integrated staking function and trading signals, $99BTC offers additional potential for investors. The price is expected to rise significantly after the start of trading as part of the supply has been reserved for staking rewards. The high annual return has meant that there is strong demand.