#Bitcoin Awaits Fed's Decision
Bitcoin rose 3.6% to surpass $60,000 on Tuesday, just ahead of the US Federal Reserve's interest rate decision. As BTC gained 5%, stock markets showed mixed signals, and Gold dipped over 0.5%.
The Fed is expected to decide between a standard 25-basis-point (bps) rate cut or a larger 50 bps reduction. According to the CME’s Fed Watch Tool, there's a 63% chance of a 50 bps cut and a 37% chance of a 25 bps cut. This decision could significantly impact crypto markets.
Currently, US interest rates range between 5.25% and 5.5%. Economists and investors closely monitor these rates to predict economic outcomes and asset valuations, including cryptocurrencies.
