Bitcoin's price soared past $77,000 due to a favorable decision by the U.S. Federal Reserve. The 25 basis point interest rate cut, bringing rates to between 4.50% and 4.75%, was aimed at aligning with the Fed's monetary policy objectives.
This rate adjustment generated extra momentum in the already buoyant cryptocurrency market. Consequently, Bitcoin reached a fresh all-time high, touching $77,270.
The Fed's move underscores ongoing favorable conditions for Bitcoin and other cryptocurrencies, spurring increased investor confidence and market activity.
