Why is Bitcoin's Price Rising Today?
Bitcoin experienced a significant rally, reaching $103,460, with a 6% increase over 24 hours. Major altcoins like Ethereum surged 20%, while Solana and Cardano rose over 10%. This market movement was driven by expectations of interest rate cuts, renewed institutional demand, and a tentative U.S.-U.K. trade agreement. Futures markets indicate a 70% chance of a rate cut in July and a 95% probability of at least one cut by October. President Trump criticized Fed Chair Powell, advocating for rate cuts to boost the economy. Despite skepticism about the trade deal's economic impact, markets reacted positively, with U.S. equity indexes gaining. ARK Invest reported strong inflows into Bitcoin spot ETFs, reinforcing its status as a potential safe-haven asset amid global uncertainty.
