USDC/BTC
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 rates have historically proved bullish for the price of risk-on assets such as cryptocurrencies. So with the world’s largest economies each stepping in this direction, plus China injecting additional liquidity into its markets, the global financial outlook is promising – and this places the crypto sector in an exciting spot.
With that in mind, what is the best crypto to buy now?