Sunil Kumar
@sunil12349
207 Following
79 Followers
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Will the Fed’s Expected Rate Cut Matter Much for Bitcoin?
Lower interest rates reduce borrowing costs, increase consumer spending, and make traditionally safer investments like bonds less appealing.
Sebastian Sinclair
By Sebastian Sinclair
Nov 7, 2024
2 min read
Bitcoin logo. Image created by Decrypt using AI
Bitcoin logo. Image created by Decrypt using AI
The "Trump trade" took center stage late Tuesday into early Wednesday, with crypto prices surging as Bitcoin hit a new all-time high, buoyed by early signs of a potential Republican return to the White House.
Bitcoin’s uplift came as the market began pricing in a likely win for former President Donald Trump on Election Day, with crucial swing states finalizing votes earlier than many had predicted.
On Wednesday, Bitcoin posted its single-largest daily performance since March 20, clinching a 9% gain to close out above $75,560, according to TradingView’s Crypto Index. @ @saska 0 reply
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