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Bitcoin Rises to Test One Month High as Rate Cut Euphoria Fades

  • Bitcoin traded close to its one-month high as the euphoria from the US Federal Reserve's rate cut decision faded.
  • The Fed's unexpected 50 basis points interest rate cut has been seen as positive for the crypto market, with analysts anticipating increased market activity.
  • Central bank interest rate decisions impact liquidity and investor behavior, affecting the flow of capital into cryptocurrencies.
  • Bitcoin's options contracts showed a dip in volatility, suggesting that traders are not expecting significant price changes in the near future.

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