Bitcoin price retraced 2.6% to hit $62,000 on Sept 22, whale investors buying large amounts of BTC since the US Fed rates cut could trigger another rebound.

As of 8 a.m. ET, the price of bitcoin, or 1 BTC, was $62,661.23. The crypto’s highest intraday price in the past year was $73,750.07 on March 14, 2024. The chart above is pulling data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.

Bitcoin’s price climbed on Wednesday in anticipation of an interest rate cut by the Federal Reserve, while data showing an improvement in capital flows into spot exchange-traded funds also aided sentiment.

Bitcoin’s all-time high was on March 14, 2024, trading at $73,750.07 per bitcoin. The lowest intraday price that the crypto traded in the past year was $25,781.12 on Sep. 13, 2023. The original crypto is up by 119% year over year.