Bitcoin Surges as Federal Reserve Signals Interest Rate Stability
The U.S. Federal Reserve's projection of 75 basis points in rate cuts for 2024 has led to a surge in traditional markets, with stock indexes reaching new highs and bond yields dropping. The market is now pricing in nearly 150 basis points in rate cuts, despite the Fed's more modest forecast. However, economic data, including strong GDP growth and declining unemployment claims, suggests a slowdown or recession may not be imminent. Bitcoin has also benefited from the Fed's dovish signal, recovering from a recent flash crash.
