Bitcoin Spikes Above $61,000 as Fed Implements 50 Bps Rate Cut

In a significant market move, Bitcoin (CRYPTO: BTC BTC - $62734.221 surged past the $61,000 mark after the U.S. Federal Reserve announced a 50 basis point (bps) cut in interest rates, bringing the federal funds rate down to a range of 4.75% to 5%. What Happened: This sharp rise marked a critical point for Bitcoin, which crossed the $61,000 threshold before settling back at $60,400, a modest 0.9% decline from its high.

Source: benzinga.com

Related symbols: BTCUSD

2024-09-18 19:04:03 GMT.

Link to source Join our Telegram channel

Price & Market Data

Price: $62734.221

Volume 24h: $43,809,506,035.89

Market Cap: $1,239,396,082,199.63

Description

Bitcoin (BTC) is a cryptocurrency launched in 2010. Users are able to generate BTC through the process of mining. Bitcoin has a current supply of 19,756,287. The last known price of Bitcoin is 62,970.2481002 USD and is up 4.53 over the last 24 hours. It is currently trading on 11703 active market(s) with $43,727,270,107.03 traded over the last 24 hours. More information can be found at https://bitcoin.org/.