Bitcoin (BTC) has regained its position above $67,000, propelled by the Federal Reserve's Beige Book, which suggests a weakening economic outlook and strengthens the likelihood of further rate cuts in the coming months. According to the latest Beige Book report, released on October 24, most of the 12 regional banks in the U.S. noted stagnant or slightly declining economic activity since early September, particularly in manufacturing and consumer demand. Although inflation has moderated, hiring has primarily focused on replacing existing staff rather than expanding. This sluggish economic projection contrasts with a surprisingly robust jobs report for September, reinforcing the prospect for Fed rate reductions. After dipping below $53,500, Bitcoin's price rose by 1%, trading at $67,300 at the time of the report. In tandem, the dollar index (DXY) also showed signs of weakening, retracting from its highs as the markets reacted to the Beige Book insights.

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