Bitcoin Surges Following Federal Reserve's Interest Rate Cut
Wednesday, 18 September 2024, 11:11
Bitcoin's Response to Economic Policy Changes
Bitcoin rises following the Federal Reserve's decision to cut its key policy rate by 50 basis points, marking the first cut in over four years. This action has triggered investor interest and increased trading volume.
Current Market Dynamics
- Bitcoin is trading at approximately $60,475.
- It remains 18% below its record high of $73,798, achieved in March.
- The market sentiment is bullish due to the Fed's pivotal interest rate decision.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.