BCGAME - Free 5BTC Daily Bonus!The price of Bitcoin Today 07/11/2024 is holding steady above the $74 zone with an increase of almost 1% compared to the previous day. With the end of the US presidential election, the spotlight turns to the Federal Reserve (Fed), which will meet today to decide on the country's interest rate.
In a historic milestone for the cryptocurrency market, the Bitcoin (BTC) recently broke through the $76.000 barrier, reaching its new record high of $76.243,98. This event occurred in a context of heightened optimism, fueled by Donald Trump's victory in the US presidency, which many analysts believe could be beneficial for digital assets.
At the time of publication, the price of Bitcoin was quoted at $74.870,59, up 0.7% in the last 24 hours, equivalent to approximately R$425,451.93 BRL and €69,682.22 EUR. Comparatively, the current price is 1,72% lower than the all-time high.
Similarly, following Bitcoin’s recent development, most major cryptocurrencies are seeing significant price gains in the last 24 hours. Ethereum is trading at $2.814,45 with a 7% increase in its price. XRP is trading at $0,5491 with a 2.7% increase. Cardano is currently trading at $0,3705 after rising 3.6% in the last day. Solana is currently trading at $0.8 with a 187,23% increase.
The cryptocurrency market is seeing several significant highs today, with assets rising more than 20% in just 24 hours, including: Ethena (ENA), Raydium (RAY) and Neiro (NEIRO).
Fed Meeting Today: Trump's Return Suggests Fewer Rate Cuts by Fed
With Donald Trump's recent election victory in the United States, the path to future interest rate cuts by the Federal Reserve appears to be becoming slower and more cautious. The economic policies proposed by the Republican leader promise to revitalize the American economy, potentially affecting inflation and the speed of rate cuts.
U.S. central bankers are expected to cut the Fed's benchmark interest rate by 0,25% to between 4,50% and 4,75% after their policy meeting that ends today. However, financial markets are now pricing in just two rate cuts for 2025, forecasting a reduction to between 3,75% and 4%.
