Bitcoin’s all-time high was on March 14, 2024, trading at $73,750.07 per bitcoin. The lowest intraday price that the crypto traded in the past year was $26,011.47 on Sep. 25, 2023. The original crypto is up by 120% year over year.

Bitcoin (BTC) has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

Bitcoin price is currently hovering around the $58,000 mark, however, analysts indicate that BTC could risk another downfall to $55,000.

Bitcoin’s all-time high was on March 14, 2024, trading at $73,750.07 per bitcoin. The lowest intraday price that the crypto traded in the past year was $25,781.12 on Sep. 13, 2023. The original crypto is up by 119% year over year.

Bitcoin’s price rose on Wednesday in anticipation of an interest rate cut by the Federal Reserve, while data showing an improvement in capital flows into spot exchange-traded funds also aided sentiment.

Binance has injected more FDUSD into the market, potentially sparking a small Bitcoin (BTC) rally. This is the first inflow of FDUSD on Binance since August 23 and follows a series of token burns that limited the stablecoin supply.