Bitcoin has updated its historical high for the third time

On Thursday, November 7, the US Federal Reserve decided to cut interest rates by 0.25%, which led to a rapid rise in bitcoin BTC $98,746.27 Bitcoin 0.24% Market capitalization $1.95 trillion VOL. 24 hours $4.57 billion . The top crypto asset set a new all-time high of $ 76,849, after which its price partially rolled back. At the time of publication, bitcoin was trading at $ 76,230.

The FOMC (Federal Open Market Committee — ed.) meeting, which made this decision, was the second consecutive easing of US monetary policy since September 2024. The Fed’s interest rate is currently 4.75%. The next rate meeting is scheduled for December 17−18, and the probability of another cut is 74.7%, according to CME’s forecasts.

During a press conference, Fed Chairman Jerome Powell emphasized that the Fed’s policy would not depend on the outcome of the US elections and noted that he would remain in office until the end of his term, even if he received a resignation request from President Trump.

As a reminder, on November 5, a new historical maximum of bitcoin mining complexity was recorded, reaching 101.65 T, which is 6.24% higher than the previous figure. According to the CloverPool platform, the average network hashrate, which reflects the required computing power, is 709.87 EH/s.