Bitcoin Surpasses $27,000, Reaching September Milestone
As the clock struck 11:41 pm local time, Bitcoin defied expectations by surging 2.66% to reach an impressive $27,217.25 on Coinbase. This remarkable achievement marks the first time the cryptocurrency has reached such heights in the month of September.
Intriguingly, industry expert Descislava Aubert, an analyst at Kaiko, revealed that the driving force behind this surge remains shrouded in mystery. No clear cause or catalyst has emerged to explain today’s impressive rally.
“Under the current circumstances of low liquidity, it only takes a few substantial orders to significantly impact the market. Given these conditions, it is our belief that the market will continue to exhibit high volatility throughout this week, particularly in anticipation of the upcoming monetary policy meetings of several central banks,” stated Ms. Aubert.
On the economic calendar, market participants anxiously look ahead to the key meetings of central banks in the coming days. The US Federal Reserve (Fed) convenes on September 19-20, followed by the Bank of England (BoE) on September 21, while the Bank of Japan (BOJ) will hold its meeting from September 19 to September 22.
Bitcoin surpasses $27,000 today This is the first time in September.
As of 11:41 pm local time, Bitcoin was up 2.66% to $27,217.25 in trading on Coinbase.
Descislava Aubert, an analyst at Kaiko, said there was no clear reason to explain today’s rally.
“Under an environment where liquidity is low It only takes a few orders to move the market. We expect the market to remain volatile this week. ahead of the monetary policy meeting of several central banks,” said Ms Aubert.
The US Federal Reserve (Fed) will meet on September 19-20, while the Bank of England (BoE) will meet on September 21 and the Bank of Japan (BOJ) will hold a meeting on September 19-20 September 22.
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