Bitcoin Breaks $91K Barrier Driven by Rate Cut Hopes and SpaceX Move

The Bitcoin price surged 4% in the past 24 hours to reach $91,393. This surge coincides with rising expectations of a US Federal Reserve rate cut which has driven renewed interest from investors. Bitcoin’s market capitalization saw volume increase by 14% to $75.7 billion as the crypto asset broke above $91,000. 85% probability of a quarter-point reduction in December, according to CME FedWatch data, fuels this upward trend. Lower interest rates could improve liquidity and increase appetite for higher-yielding assets such as Bitcoin.