Bitcoin Rises as Markets Expect Decade’s First Fed Rate Cut


The bitcoin price was higher on Wednesday morning as investors prepared themselves for the outcome of the Federal Reserve’s meeting later in the afternoon.

At around 07:00 UTC, the BTC/USD instrument established a local high of $9,814.61, up close to 3 percent in the previous 24 hours. Futures on CME were also up by 2.31 percent. Bitcoin’s upside also influenced other cryptocurrencies to follow suit, with Ethereum, XRP, Litecoin, and Binance Coin surging in the range of 2-3 percent. Bitcoin Cash, meanwhile, registered profits of more than 5.5 percent, the highest in the top ten crypto index.

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