Why is Bitcoin price up today?
price is up on Nov. 4, and a market-wide rally in crypto prices suggests that Bitcoin (BTC) , (BNB) and Ether (ETH) are starting the month of November in the black.
Bitcoin and the market are fighting back after the Federal Reserve’s Nov. 2 announcement of a 0.75 basis point interest rate hike which at first had a positive impact on equities and cryptocurrency markets, then led to a market downturn. BTC price. Source: CointelegraphCrypto market performance. Source: CoinMarketCapBitcoin options open interest. Source: CoinglassInterest rates may fall. Source: MacromicroBitcoin to SPX correlation coefficient. Source: TradingViewBitcoin UTXO realized price distribution in October 2022. Source: GlassnodeContinue Reading on Coin Telegraph