Reported about 1 year ago
Bitcoin saw a 4.1% increase to $70,002, halting a two-day slide as renewed expectations of US interest rate cuts drove up demand for riskier assets. The Federal Reserve's potential rate cuts due to cooling inflation boosted bets on Bitcoin and other cryptocurrencies like Ether, Solana, and Dogecoin. Crypto-related stocks, including Coinbase Global Inc. and MicroStrategy Inc., also rose. The core consumer price index rising 0.2% in April and Fed officials signaling a potential rate cut in July further supported the rally, indicating market maturity for cryptocurrencies as they respond to broader market indicators.
Source: YAHOO