Deniz 
Immediately following the U.S. Federal Reserve’s Wednesday 50 basis point interest rate reduction, Bitcoin’s price surged upward. Rising to around $62,000, Bitcoin has gained 3.06% over the past 24 hours while market analysts consider possible Federal Reserve rate cuts. The Fed projects median benchmark rates to decrease to 4.4%, hence a 50 basis point cut is predicted before the end of the year.
News of a presidential candidate’s first Bitcoin buy strengthens this positive attitude even more. With Solana (SOL) leading gains at 6%, followed by BNB Chain’s BNB, XRP, and Cardano’s ADA all rising by up to 4.5%, the larger Bitcoin market also jumped. Memecoins SHIB and DOGE also posted 4%.
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Fed’s Rate Cut Expectations Fuel Market Optimism
The Federal Reserve’s choice to possibly cut interest rates by 50 basis points has inspired hope in digital assets as well as other financial sectors. The Federal Open Market Committee (FOMC) projects two more rate reductions by year-end, therefore supporting the belief that more relaxed monetary policy would drive demand for riskier assets like cryptocurrencies.
Reflecting on the forthcoming reduction, Fed members have changed their economic view to predict benchmark interest rates to land at 4.4% by the end of the year. As inflationary concerns fade and speculative investments take hold, this has translated into fresh investor confidence in digital assets—especially Bitcoin.
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