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Bitcoin Price Strengthens, Tokocrypto Optimistic that Crypto Investment Will Expand

Liputan6.com, Jakarta Bitcoin price movements are again approaching the USD 70,000 level or around IDR 1.13 billion (exchange rate IDR 16,242). Bitcoin (BTC) welcomed the United States' weak May 2024 inflation figures, briefly surging to USD 69,400, up almost 4% over the past week.

After falling US inflation figures raised expectations of a reduction in interest rates by the Fed in the near future. At its June meeting, the Fed decided to keep interest rates unchanged, a move that had an important impact on the price of Bitcoin (BTC).

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The Fed decided to keep interest rates between 5.25%–5.50%. This is contrary to projections that the Fed will probably follow in the footsteps of other G7 central banks in cutting interest rates by 25 basis points.

Even so, the hope is that the Federal Reserve's announcement will help increase BTC's bullish momentum to help it retest the resistance level at USD 70,000.

Responding to this condition, Tokocrypto's Chief Marketing Officer (CMO), Wan Iqbal, said that Bitcoin's recovery was momentum for investors to optimize opportunities by starting to consider high-risk investment instruments, such as crypto. Apart from that, the crypto investment climate also gets fresh air from various other factors.

“Institutional adoption of Bitcoin and other crypto assets continues to increase, with several large companies starting to consider crypto as part of their investment portfolio,” said Iqbal at the Tokocrypto Media Luncheon event, Thursday (13/6/2024).

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Bitcoin Price Strengthens, Tokocrypto Optimistic that Crypto Investment Will Expand

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