Rally

Jerome Powell

Bitcoin

Reserve

<ul class="wp-block-list news-points">
 <li>Bitcoin surged above $77K after the Fed cut interest rates to 4.50%-4.75%.</li>
 <li>The Fed chair announced a 25 basis point interest rate cut after the FOMC meeting.</li>
 <li>Jerome Powell said the rate cut had nothing to do with Donald Trump’s election victory.</li>
</ul>
Bitcoin surged above $77,000 on Friday after the U.S. Federal Reserve announced a 25 basis point interest rate cut, lowering rates to a target range of 4.50%-4.75% to align with its monetary policy goals.
The decision added momentum to the ongoing crypto market rally, pushing BTC to a new all-time high of $77,270. While making the announcement, Fed chair Jerome Powell clarified that the interest rate cut had no connection to Trump’s election victory.
The Fed’s rate cut <a href="https://www.youtube.com/watch?v=vG0iJUVRSGo" target="_blank" rel="noopener noreferrer nofollow">aligned with market expectations</a>, injecting more liquidity into the U.S. financial system. Powell noted that the nation’s inflation is moving in the right direction, meeting its 2% target despite remaining elevated.
Other countries also adjusted their interest rates. The Bank of England (BoE) cut its rates by 25 basis points, while Sweden’s Riksbank made a larger reduction of 50 basis points.
Notably, these developments, especially th…
The post <a href="https://coinedition.com/bitcoin-hits-77k-after-feds-25bps-rate-cut-spurs-rally/" rel="noopener noreferrer nofollow">Bitcoin Hits $77K After Fed’s 25bps Rate Cut Spurs Rally</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Hits $77K After Fed’s 25bps Rate Cut Spurs Rally

Coin Edition

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