Bitcoin started the new week with a positive outlook. While the largest crypto money is again based on the $ 64,000 limit, experts point to another interest rate cut expectation in November.

“Goldilocks situation is happening”

Especially after the employment and unemployment data announced on Friday, Bitcoin started to recover slowly. Experts saw the higher-than-expected non-farm employment data as positive and interpreted it as a further reduction in the possibility of recession.

Speaking to The Block, Min Jung, an analyst at Presto Research, pointed to the ‘Goldilocks’ scenario:

‘There is growing optimism for a soft landing… We see the US economy entering a ‘Goldilocks’ scenario’

As is well known, the ‘Goldilocks situation’ refers to a period in which the economy is at an ideal level, i.e. at a level where it should be. Here, there is no danger of recession, inflation remains at a low level and it means that an economy continues as it should.

As it will be remembered, the expectation in the employment data announced on Friday was 150 thousand, but the official figure was announced as 254 thousand.

“$66,000 may come”

BTCMarkets crypto analyst Rachel Lucas also stated that the expectation of another interest rate cut in November after recession fears subsided led to an increase in liquidity:

‘The expectation that the Fed will go for a new interest rate hike seriously increases the risk appetite of investors. This also benefits assets such as Bitcoin. One of the factors in the rise of Bitcoin is the gradual decrease in Bitcoin standing on exchanges … This also reduces sales pressure. If a solid stance above $64,500 comes, it can also go up to $66 thousand.’

Fed is expected to cut interest rates by 25 basis points at its interest rate meeting on November 7.