According to Bloomberg News, Bitcoin took a breather after surpassing $108,000 for the first time, as traders awaited the expected Federal Reserve interest rate cut decision and assessed U.S. President-elect Donald Trump’s support for cryptocurrencies. brings optimism.
Trump has promised friendly regulatory policies aimed at giving the U.S. dominance in the cryptocurrency space and backed the idea of a strategic national bitcoin reserve. MicroStrategy's impending inclusion in the Nasdaq 100 index also adds fuel to this optimism, as it opens the door to the possibility of the company further profiting from its Bitcoin investments.
The Fed is widely expected to cut interest rates by another 25 basis points on Wednesday, but clarity on future policy direction has been reduced due to strong U.S. economic growth and inflationary risks from Trump's broader agenda