Bitcoin (BTC) has opened the week at $64,000 following a strong performance during the weekend. The crypto gold is currently exchanging hands at $64,329.11, up 1.40% in the 24-hour chart.
BTC is the second-most traded crypto during the session, accumulating a volume close to $18 billion. The Relative Strength Index, measuring the overall buying and selling pulse, has recovered to 50.0 points after tanking to 33.50 in the previous sessions.
According to a report from crypto.news, Bitcoin has started gaining buying consolidation after the release of the US labor market data on Friday. The result showed that hiring in the United States came at 175,000 jobs in April, shifting the market’s attention away from the Federal Reserve’s rate cut decisions.
Before the recent developments, investors have been anticipating two rate cut events for the year – one for September and another for October – with both expected to cause downward trajectory to risky assets like Bitcoin.
A separate data revealed that BTC has been one of the best-performing assets in the market over the past 10 years. It has jumped 12,000% from its 2014 price of $378, outperforming big names in the technology sector including Amazon, Google, and Netflix.
Nvidia is the only asset in the tech sector to outpace Bitcoin after its record-breaking increase of almost 18,000% over the same period.