Bitcoin Price Surges to $27.4K Amidst Grayscale Peak and Fed Rate Pause

Bitcoin (BTC) reached new month-to-date highs, surpassing $27,000 for the first time in September, as a strong weekly close and bullish sentiment on Wall Street fueled the rally. Market participants observed a resurgence of momentum among Bitcoin bulls, with altcoins also showing signs of awakening. However, caution was advised as open interest in Bitcoin surged, potentially leading to a retracement if spot bids disappear. The U.S. Dollar Index (DXY) remained strong, breaking through the 105 level for the first time since mid-March, but Bitcoin showed no signs of weakness.