Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin posts biggest intraday gain in over a month, boosted by prospect of Fed rate cuts

Bitcoin posts biggest intraday gain in over a month, boosted by prospect of Fed rate cuts

Bitget2024/09/17 22:22

Bitcoin posted its biggest intraday gain in more than a month on Tuesday, with the prospect of a Federal Reserve interest rate cut expected to boost demand for the speculative asset. Bitcoin rose 6.4 per cent at one point to $61,337, its biggest intraday gain since 8 August. Smaller cryptocurrencies such as Ether, Dogcoin and Solana also advanced. Swap market pricing suggests the Fed will cut rates by at least 25 basis points on Wednesday, with the probability of a 50-basis-point cut at around 55 per cent. ‘I think the recent growing correlation between cryptocurrencies and traditional markets‘ is driving bitcoin higher, said Shiliang Tang, president of Arbelos Markets.Tang said MicroStrategy Inc.’s announcement on Monday to issue convertible notes to buy more MicroStrategy Inc.'s announcement Monday that it would issue convertible notes to buy more bitcoin also boosted cryptocurrency market sentiment, Tang said.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!