Fed’s 50 Basis Point Interest Rate Cut Moves Bitcoin: It Surpasses $62,000
Fed's 50 basis point rate cut, Bitcoin$BTC
(BTC) gained momentum and surpassed $62,000.
Following the Fed’s announcement, BTC first managed to rise above $61,000, but the momentum soon reversed. The leading cryptocurrency’s volatility increased and it fell below $60,000, creating anxiety in the markets. Then, its rise accelerated again, and BTC surpassed $62,000, leaving this level behind for the first time since August 27. This situation offered promising signals for the bull season.
When Fed Chair Jerome Powell announced that he would cut interest rates by 50 basis points after four years of restrictive monetary policy, a positive impact was observed on cryptocurrencies. The Fed, which cut interest rates for the first time since 2021, caused instant fluctuations in financial markets. This decision was interpreted in line with the interest rate cuts of other global central banks such as the European Central Bank.
Most crypto investors were expecting a 25 basis point cut, but the Fed took a 50 basis point step. Although this decision caused some confusion, its impact on cryptocurrencies seems positive for now. Within a few hours of the Fed announcement, BTC surpassed $62,000, giving hope to markets and investors.
Bullish signals could strengthen if Bitcoin breaks the $64,000-$65,000 range on volume. A sustained move above this level could pave the way for new highs.
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