© Reuters.
Cryptocurrency enthusiasts witnessed the significant rally in , as the digital currency surpassed the $38,370 mark on Tuesday. This latest rise reflects growing interest in cryptocurrencies and is supported by expectations of a policy shift by the Federal Reserve towards lower interest rates, given signs of a slowdown in inflation.
Bitcoin is up an impressive 129% this year, following a tumultuous 2022 that saw the cryptocurrency plunge sharply. Optimism in the crypto market was boosted by comments from Fed Governor Christopher Waller, who hinted that the central bank may consider cutting rates, a move that traditionally benefits risky assets like cryptocurrencies.
Despite the Securities and Exchange Commission’s (SEC) decision to delay its decision on Bitcoin ETF applications by Hashdex and Franklin, market dynamics remain unchanged. Crypto analysts have highlighted these postponements, which appear to have had little impact on investors’ growing enthusiasm for bitcoin and other digital currencies.
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