The Federal Reserve has decided to cut interest rates by 0.5%, which will bring the new range to between 4.75% and 5%, as announced by chair Jerome Powell on Wednesday.
This decision has led to a significant jump in Bitcoin's price, which climbed to over $62,000. Many experts in the cryptocurrency field are now predicting that Bitcoin may soon achieve a new all-time high, given the positive market response to the rate cut.
Investors are closely monitoring the situation to see how the reduced interest rates will further impact the price of Bitcoin and other cryptocurrencies in the near future.
