Best Crypto to Buy as China Rate Cut Sends Crypto Prices Higher
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Bitcoin tapped $97K in the early hours of Wednesday morning after China’s central bank cut interest rates to 1.4% and injected 1 trillion Chinese Yuan ($138.6 billion) into the market.
The move will bolster economic activity in the region, which is bullish for globally available assets like cryptocurrencies.
Meanwhile, the Federal Reserve will decide whether to cut U.S. interest rates on Wednesday. The expectation is no change, but the market is pricing in a 74.8% chance of a rate cut by 30 July, per CME Group’s FedWatch tool.
Lowering interest…
