Posted 12/13/2023, 10:52:00 PM
Bitcoin Rebounds Above $43K, Lifting Crypto Market as Fed Signals Rate Cuts
- Bitcoin bounced back over $43K on Wednesday, pulling the broader crypto market higher
- The gains came as the Fed signaled potential interest rate cuts in 2023-2024, leading to a risk-on rally
- Large-cap altcoins like Avalanche, Cardano, and Injective posted near 10% gains
- The rally extended to crypto stocks like Coinbase, MicroStrategy, and bitcoin miners
- Analysts say lower interest rates tend to benefit crypto and other risk assets by implying greater investment capacity