1. Fed's Interest Rate Decision
2. Market Reaction
3. Forecasts and Expectations

The United States Federal Reserve's decision to cut interest rates by 50 basis points led to Bitcoin rising above $61,000.

Fed's Interest Rate Decision

The Federal Open Market Committee (FOMC) opted to take an aggressive step by cutting interest rates by half a point, the first since the early days of the COVID-19 pandemic in 2020, to head off a slowdown in the labor market.

Market Reaction

The move was highly anticipated by the market, and according to data from CME Group's FedWatch Tool, a rate cut was already 100% probable. Data from Cointelegraph Markets Pro and TradingView tracked BTC price action following the rate decision.

Forecasts and Expectations

As of the time of writing, Bitcoin price trades at $60,400, and traders will closely dissect Powell's post-FOMC press conference comments to predict when additional rate cuts might be implemented.

In summary, the Fed's interest rate cut decision led to a positive response in the crypto market, particularly with Bitcoin's price increase.