Traders betting on Fed fund contracts are pricing in a 65% implied probability of rates cut to a 4.5-5% range. PLUS: Circle announces partnership with Polymarket

The Bitcoin price recently invalidated the rounding top pattern as the bulls took charge of the price around the $57,681 support, pushing the price back above the $60,000 level, data from GeckoTerminal shows. BTC price has formed a rounding bottom pattern, which the bulls aim to capitalize on to push the price toward a sustained bullish stance.

This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to

The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 18, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

The Federal Reserve on Wednesday reduced its key policy rate by half a percentage point, its first cut since March 2020 and the biggest cut in 16 years. Bitcoin edged up 0.2% Wednesday afternoon to around $60,

The Federal Reserve implemented a 50 basis point rate cut, with expectations of further reductions to bring the median benchmark rate to 4.4% by

Bitcoin reclaimed $60,000 on Tuesday as investors awaited details on the Federal Reserve's rate cutting plans.

Bitcoin popped up over $60,000 and kept climbing early Thursday after the Federal Reserve slashed interest rates.

Bitcoin topped $61,000 in the run-up to the U.S. market open on Tuesday, with trading volume on Binance increasing.Jumps in Binance trading