Bitcoin (BTC), the world’s leading cryptocurrency, shattered its all-time high price record for the second time today, briefly reaching $76,466 before settling back slightly to around $76,000 at the time of publication. This surge came just an hour before the Federal Reserve’s highly anticipated interest rate decision, where a 25 basis point cut is widely expected.
The record-breaking rally occurs amidst a backdrop of uncertainty surrounding the economic policies of newly elected US President Donald Trump. Trump’s proposed measures, including immigration reductions and new import tariffs, are anticipated by some to fuel inflationary pressures. This potential inflationary environment has led some analysts to speculate that investors might increasingly view Bitcoin as a hedge against rising prices, further driving demand for the digital asset.
While the Fed is expected to cut rates in the short term, the longer-term economic outlook remains clouded by the potential impact of Trump’s policies.
