Bitcoin (BTC) experienced a significant surge in value, trading above $76,000 during the Asian morning hours on Friday. The cryptocurrency has shown an almost 10% increase in value over the past week, and analysts are attributing this rise to the Federal Reserve’s recent decision to cut interest rates by 25 basis points.
This move is in line with analyst expectations and is expected to support risk assets, such as bitcoin, by increasing liquidity and weakening the dollar. The decision made by the Federal Reserve to cut interest rates is seen as a positive development for the cryptocurrency market, and it may contribute to further gains in the coming weeks.
