Catalyzed by the wave of interest rate cuts, Bitcoin is moving towards the best September in history.

Loose financial conditions have ignited the market's risk appetite, and Bitcoin is expected to hit one of the biggest gains in September.

According to data compiled by Bloomberg, Bitcoin rose by more than 10% this month, while in the past decade, it fell by an average of 5.9% in September. The small currency index rose by more than 20%.

This month, the Federal Reserve, the European Central Bank, the People's Bank of China and other central banks all reduced their borrowing costs to support economic growth. Investors quickly responded to a more relaxed monetary environment. Except for digital currency, this risk preference is reflected in the trading of stocks and gold.

Sean McNulty, trading director of Arbelos Markets, said: "As far as the Fed is concerned, the correlation between Bitcoin and monetary policy is still the highest. The easing policies of other central banks certainly help. "

As of press time, the price of Bitcoin is $65,149. Since this year, the price of Bitcoin has increased by 47%.

Caroline Mauron, co-founder of Orbit Markets, said that since a large number of option contracts will expire on Friday, the level of $65,000 may prove to be "firm" in a few hours.

According to a statement from Kraken, a cryptocurrency exchange, the failure to "decisively" break through $65,000 may indicate that Bitcoin will enter a weak period.

In addition, the US presidential election may also boost digital assets. The market expects that within a few months after the election, the regulation of cryptocurrency in the United States will be clearer, which will boost market sentiment.

Risk warning and exemption clause

The market is risky and investment needs to be cautious. This paper does not constitute personal investment advice, nor does it take into account the special investment objectives, financial situation or needs of individual users. Users should consider whether any opinions, viewpoints or conclusions in this article are in line with their specific situation. Invest accordingly at your own risk.