Bitcoin has surged to $62000 following the Fed’s 0.50% interest rate cut – the first in 4 years. This move has brought renewed optimism to the crypto markets. 📈
Over the last 12 hours, despite huge volatility, the total market cap increased by 3.22%, while 24-hour trading volume jumped by 13%, reflecting increased activity as traders reposition portfolios.
Historically, $BTC has performed well during periods of loose monetary policy, and the "Fear and Greed" index has shifted from last weeks fear (31) to nearly neutral (49), signaling cautious optimism. 💡
Other major currencies are also up - $ETH surged past $2400, and $SOL is close to $140! However, while cryptocurrencies are showing confidence, traditional markets, including stocks and gold, saw mixed reactions.
