Bloomberg: Global rate cuts drive Bitcoin to potentially achieve the largest September gain in history

ChainCatcher news, according to Bloomberg, Bitcoin is poised to experience one of its largest September gains in history, thanks to a global wave of interest rate cuts, particularly the U.S. actively shifting towards a more accommodative monetary policy.

According to Bloomberg data, Bitcoin has risen over 10% this month, while the average decline in September over the past decade has been 5.9%. The small-cap token index has increased by more than 20%, indicating that a looser financial environment is activating the riskier segments of the crypto market.

A report from the cryptocurrency exchange Kraken noted that if Bitcoin fails to "decisively" break through $65,000, it may signal the onset of a weak period.

In addition to monetary policy, the digital asset industry is also awaiting the results of the U.S. presidential election. Many executives expect that within a few months after the election, U.S. cryptocurrency regulation will become clearer, which will boost market sentiment.