Bitcoin Prices Surge 8% on Increased Odds for December Rate Cut

Bitcoin prices experienced a significant surge of over 8%, breaking above the $81,000 mark, following increased expectations of a Federal Reserve rate cut in December. The CME FedWatch tool now indicates a 67% chance of a 25 basis point rate reduction at the upcoming meeting, significantly higher than previous estimates. Analysts attribute this rally to speculation surrounding potential rate cuts and growing institutional interest in crypto assets.