Bitcoin Reaches $65K as Fed's Rate Cut Outlook Holds Steady

Bitcoin has surged over $65,000 following the Fed's reassurance on interest rate cuts. Jerome Powell's indication of a stable rate cut outlook has reinstated market optimism. The stable rate outlook is fueling positive reactions in risk-on assets like Bitcoin. Despite the recent surge, it remains to be seen whether Bitcoin will resume its uptrend, as it is still down 11% from its all-time high. The future direction will hinge on upcoming data and market dynamics.