Bitcoin rises to new record above $107,000 ahead of this week's Fed decision
Publishing timestamp: 2024-12-16 17:38:08
Summary
Bitcoin rallied to new all-time high as investors awaited expected interest rate cut by Federal Reserve later this week. Ether also rose to break through key $4000 level. Crypto market traded higher, with Coinbase rising and MicroStrategy announcing additional BTC purchases. Investors expect Fed to lower interest rates, which could be positive for bitcoin. Bitcoin is up for the month, since the U.S. presidential election, and for the year. Potential regulatory environment and establishment of national strategic bitcoin reserve in incoming Trump administration are positive catalysts. Potential inclusion of MicroStrategy into 'QQQ' could mark tech top.
Sentiment: POSITIVE
Tickers: ETH.CM=, COIN, BTC.CM=, MSTR, QQQ,
Keywords: breaking news: markets, investment strategy, bitcoin/usd coin metrics, microstrategy inc, markets, technology, business news, cryptocurrency, breaking news: investing, ethereum/usd coin metrics, coinbase global inc, powershares qqq trust, coindesk 20,
Source: https://www.cnbc.com/2024/12/16/crypto-market-today.html