Bitcoin prices surged above $84,000 after the CME FedWatch Tool indicated a 71% chance of a December rate cut by the Federal Reserve. This recent optimism is spurred by comments made by John Williams, President of the New York Federal Reserve, who has signaled a potential rate cut at upcoming meetings. His position within the Federal Reserve adds weight to his statements as he’s also a voting member of the FOMC, making his opinions particularly influential on the U.S. economic landscape. The crypto market is reacting swiftly to these possible changes with Bitcoin prices reaching highs not seen since October. John Williams’s statement has already had a significant impact on the cryptocurrency market and traditional markets alike.