FED'S INTEREST RATE CUT SHOCKED BTC UP: BULL SEASON HOPE‼️
The Fed's 50 basis point interest rate cut pushed Bitcoin (BTC) past $62,000, increasing bull season hopes. After Jerome Powell's statement, BTC first exceeded $61,000, then fell back to $60,000, but quickly recovered to exceed $62,000.
The interest rate cut had a positive impact on the cryptocurrency market and brought BTC closer to its 2021 peak of $64-65,000 (Powell, 2024). Investors predict that staying above $62,000 will pave the way for new peaks (BTC, 2024). This situation is considered a promising development for the bull market.
