According to recent data, Bitcoin buying interest in the US has reached a 39-day high after the US Federal Reserve reconfirmed interest rate cuts. The Coinbase Premium Index, which tracks the difference between the price of Bitcoin on the Coinbase Pro and Binance exchanges, hit its highest level since July 15. The surge in demand came after Federal Reserve Chairman Jerome Powell said interest rates could be cut. Bitcoin’s price has reached around $64,000, its highest level since August 2. Analysts estimate that Bitcoin’s market cap has been below $60,000 for the past six months. The price increase comes despite concerns about potential selling pressure from miners due to the high cost of mining Bitcoin.
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