Bitcoin Soars 2.36% to $84,650 as Traders Bet on Fed Rate Cut

Bitcoin’s price has experienced a significant surge in recent hours, rising over 2.36% and reaching a new high of $84,650. This jump is attributed to traders anticipating that the Federal Reserve will implement another substantial interest rate cut this year, totaling a massive 100 basis points. This expectation comes after the Fed’s past cuts in September and March were much smaller.