As well as Trump’s victory, the crypto market recently received another big news as the Fed slashed interest rate by 25 bps.

Bitcoin’s($BTC ) price, often highly responsive to US news, had already reached a record near $77,000 and remained relatively stable.

Fed Goes Easy on Monetary Policy

In line with market expectations, the U.S. Federal Reserve reduced its benchmark fed funds rate by 25 basis points to 4.5%-4.75% on Thursday, following other central banks’ moves to ease monetary policy. Amid market anticipation of the rate decision, Bitcoin soared to a new all-time high of $76,700.

This reduction in rates comes after Donald Trump’s electoral win, consistent with his previous advocacy for lower interest rates to boost economic growth.

While Trump does not have direct control over Fed policies, the rate cut is in line with his economic agenda and campaign pledges, where he often pushed for sharper reductions in interest rates.

This rate cut breaks a years-long hiatus, marking only the second reduction in four years.

Source: CoinPedia