**Bitcoin Bounces as Fed Cuts Rates by 0.5% 🪙**

- Bitcoin (BTC) hit $62,600 after a rare 0.5% interest rate cut by the US Federal Reserve.

- This marks only the third time in history the Fed has started a rate-cutting cycle with such a reduction.

- Short BTC positions were liquidated, totaling $128 million in 24 hours.

- Traders are advised to reduce leverage or take profits to avoid getting carried away.

- The US Dollar Index (DXY) saw volatility, initially rising before falling back to support levels.

- Former BitMEX CEO Arthur Hayes suggests the Bank of Japan's rate decision could influence BTC prices.

Stay tuned for an interesting end to September!