CandleFocus Post-Election Déjà Vu: Bitcoin Spikes to a New Record High, While Ether and Solana Rally Ahead of FOMC
2024-11-07
Author: Content Editor
Bitcoin has reached a new all-time high following Donald Trump's election victory and is currently trading at $76,600. This surge is attributed to market expectations of a federal interest rate cut by the Federal Reserve. Ethereum's ether has also performed well, surging 8% and potentially breaking away from its stagnant price range. Other cryptocurrencies such as Cardano and Solana have seen gains as well. Bitcoin mining firm Core Scientific and MicroStrategy have experienced significant gains in the equities market. The Federal Open Market Committee meeting, where the Federal Reserve is expected to announce an interest rate cut, could impact digital asset markets.
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