Bitcoin (BTC) extends recent gains and trades above $62,000 at the time of writing on Thursday, following a 2.4% increase the previous day after the Federal Reserve’s (Fed) dovish decision to cut interest rates by 50 basis points. On-chain metrics shared by Ki Young Ju, founder of CryptoQuant, further indicate signs of BTC strength.

Bitcoin stares down Fed rate cut week at key resistance with plenty of BTC price volatility expected in the coming days.

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

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

This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. While both are considered to be high-risk when it comes to investing,

The U.S. Federal Reserve has slashed rates by 50 basis points, sending Bitcoin soaring to $62,182. The move ends a four-year break from rate cuts and adds uncertainty to an already unpredictable market.

Bitcoin (BTC) went on to hit the $61,000 price level after a brief dip as all investor’s eyes are still locked on the US Federal Open Market Committee (FOMC) meeting. The global crypto market printed majorly green indexes depicting traders’ confidence over much anticipated rate cuts.