Bitcoin Soars 2%: How Fed Rate Cuts Impact Your Crypto Investments
Bitcoin jumped over 2% after the US Federal Reserve cut interest rates. This was the Fed’s first rate cut since 2020. The move affected the crypto market, changing investors’ behaviour. Also Read: Gold Prices To Face Correction But Will Skyrocket in 2025: Analyst How Fed Rate Cuts and Crypto Investments Drive Bitcoin’s Price Surge Source: TradingView Fed’s Surprising Move On September 18, 2024, the Federal Reserve lowered its main interest rate by 0.5%. This big change in money policy comes just before the November election. Bitcoin’s Quick Response Source: piguetgalland.ch After the news, Bitcoin’s price went up 2.63% to $62,120.22. This fits with how investors often act. When interest rates go down, they often want riskier investments. Karim Dandashy, who trades at Flowdesk US, said, “Knee jerk reaction higher as the market gets some relief after weeks of flip-flopping between 25 and 50 bps.” Also Read: Donald Trump Buys Burgers With Bit...