BitcoinBitcoin -0.5% has suddenly surged higher following the Federal Reserve's first post-pandemic interest rate cut that's predicted to send the bitcoin price "skyrocketing."

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The bitcoin price has climbed to over $62,000 per bitcoin, with traders now turning to a China "shock and awe" earthquake, after the Fed surprised traders with a 50 basis point cut, kicking off what's expected to be a fresh liquidity cycle that could put the bitcoin and crypto market on the "cusp" of a major move.