© Reuters.
Crypto enthusiasts witnessed a significant recovery as the digital currency surpassed the $38,370 mark on Tuesday. This latest increase reflects growing interest in cryptocurrencies and is driven by expectations of a shift in Federal Reserve policy towards lower interest rates, amid signs signs of slowing inflation.
Bitcoin is up an impressive 129% this year, after a tumultuous 2022 that saw the cryptocurrency plummet. The bullish mood in the cryptocurrency market was further amplified by comments from Fed governor Christopher Waller, suggesting the central bank may consider cutting interest rates, a move traditionally beneficial to investors. risky assets like cryptocurrencies.
Despite the decision by the US Securities and Exchange Commission (SEC) to delay ruling on Hashdex and Franklin’s Bitcoin ETF applications, market momentum remains unhindered. Crypto analysts have pointed to these delays, but they appear to have had little impact on growing investor enthusiasm for Bitcoin and other digital currencies.
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