The price of Bitcoin (BTC) has surpassed the $60,000 mark in a sudden surge, reaching levels not seen in a while. The increase in BTC prices has led to higher levels of volatility, resulting in a significant amount of cryptocurrency liquidations totaling $114 million in the past 24 hours. The reason for this increase is attributed to rumors of a potential 50 basis point cut in interest rates by the FED, with the probability currently sitting at 46%. However, some analysts believe that such an aggressive move by the FED could have a negative impact on BTC prices, as it may fuel concerns of a recession.



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