Bitcoin retakes $38,000 while rate cut expectations increase

November 29, 2023

The largest cryptocurrency by market value gained as much as 3.3% to $38,264 before trimming the increase. Bitcoin reached an 18-month high of $38,422 on Friday. Lower rates generally increase investors’ appetite for riskier assets such as digital tokens.

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The Federal Reserve increased interest rates by 0.25 percent. This action was driven by a strengthening US economy and rising inflation. Domestic spending remains resilient

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