%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The price of %Bitcoin (CRYPTO: $BTC ) has risen above $64,000 U.S. as a rebound in the largest %Cryptocurrency accelerates. Bitcoin rose 2% in Asian trading and was as high as $64,300 U.S., its highest level in a month. The price of BTC hasn't been above $65,000 U.S. since early August of this year. The gains come days after the U.S. Federal Reserve lowered interest rates by 50-basis points and signalled that more rate cuts are likely in coming months. The rate cut has prompted investors to flood back into riskier assets such as cryptocurrencies, with prices for %Altcoins and meme coins also rising since the rate reduction was announced. Futures traders are now placing 60% odds that the U.S. Federal Reserve will lower interest rates by another 50-basis points at its next meeting in November as data points to a slowdown in the American economy. The Conference Board just reported a sharp decline in U.S. consumer confidence for September, with its headline index declining to 98.7 from 105.6, the steepest monthly drop since August 2021. With the latest increase, Bitcoin’s price has now gained 10% in the past week. Year-to-date, the largest crypto by market capitalization has risen 45%, outpacing stocks.