Bitcoin Price Surges 4% to $60K Amid Fed Rate Cut Hopes and Q4 Optimism
Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...
As optimism grows for a 50-basis-point Federal Reserve rate cut ahead of Wednesday’s FOMC meeting, Bitcoin and the broader cryptocurrency market are rallying.
Bitcoin surged by 4% to $60K, fueled by increased confidence in a bullish quarter.
Historically, Bitcoin thrives during rate cuts, and with a 62% likelihood of this scenario, further growth is expected.
As confidence increases for a Federal Reserve rate drop of 50 basis points ahead of Wednesday’s FOMC meeting, Bitcoin and the larger cryptocurrency market have rebounded.
A cut of this kind has traditionally resulted in cryptocurrency bull runs, and the CME FedWatch Tool indicates a 62% chance of one.
On the last day, Bitcoin’s price increased by 4% to hit $60K, and other cryptocurrencies like Ethereum, BNB, Solana, and XRP all saw increases.
This is bullish for crypto
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