Bitcoin hits new ATH as Fed cuts interest rates by 25 bps

On Nov. 7, Bitcoin price made a new all-time high above $76.6k as the Federal Reserve announced a 25 basis points interest rate cut.

There has also been a boom in institutional interest, as spot Bitcoin ETFs saw huge inflows. On Nov. 7, BlackRock’s spot Bitcoin ETF (IBIT) clocked $1.1 billion in inflows, surpassing $1 billion in inflows for the first time since its launch in January.