Bitcoin Hits $106K ATH, $WEPE Helps Sustain Crypto Gains Amid US Interest Rate Changes

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Bitcoinist 10h ago

Bitcoin Hits $106K ATH, $WEPE Helps Sustain Crypto Gains Amid US Interest Rate Changes - Bitcoinist

Quick Summary:

Bitcoin soared past its $106K ATH late last night, tracking from a 50% price spike since the US election outcome due to Donald Trump’s crypto advocacy. Its upswing also follows anticipation of the Federal Reserve’s (Fed) upcoming interest rate changes, possibly a 25-basis-point cut during the Federal Open Market Committee (FOMC) meeting on December 18.

Crypto traders have already noticed its potential, as evidenced by $WEPE garnering over $25M on presale.

Also signaling prosperous times for crypto is the rate cuts weakening the US dollar, making crypto cheaper when acquired in USD.