The world’s largest cryptocurrency, Bitcoin, is showing a rapid price breakout, printing several consecutive long green candles on the chart.
Today, over the past few hours, BTC has managed to soar by 2.36%, rising by $2,000, from $82,700 to the $84,650 price mark.
This sudden price surge has taken place after news was announced that traders have increased their bets that throughout this year, the Fed Reserve is likely to conduct a further interest rate cut after all and it will total a staggering 100 basis points. That is equal to 1%. That is twice as much as the Fed predicted in March. Last year, starting in September, the regulator cut rates only by 50 and then 25 basis points.
TRADERS BOOST FED BETS, FULLY PRICE 100BPS OF CUTS THIS YEAR
— *Walter Bloomberg (@DeItaone) April 4, 2025
Amid the current economic uncertainty and new tariffs imposed by US President Donald Trump on all goods imported to the US from all countries, even islands with only penguins living on them, except Russia and Belarus, might be driving investors towards Bitcoin to seek a safe haven in it.
Still, the sustainability of this BTC price surge depends on how the markets react to it, and on the actual actions of the Fed Reserve, especially on the remarks its chairman Jerome Powell will be dropping in the near future.
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