Bitcoin Nears $65,000 Amid Rate Cuts

Bitcoin is experiencing a surge, currently trading around $64,000, with potential to surpass $65,200 if the bullish momentum continues. This rise is attributed to global central banks' monetary easing policies, including significant rate cuts by the US Federal Reserve and the People's Bank of China. Bitcoin's increasing correlation with gold positions it as a hedge against macroeconomic uncertainties, further solidifying its status as 'digital gold'. Meanwhile, new projects like Bitcoin Dogs are leveraging Bitcoin's growth, incorporating features like NFTs and DeFi, though its token $0DOG has seen a recent decline. Analysts highlight that Bitcoin's price surge is also driven by diminishing confidence in fiat currencies and growing acceptance as a legitimate asset class.