Bitcoin Price Analysis: BTC Crosses $117,000 As Fed Announces Rate Cut

Bitcoin (BTC) had a muted response to the Federal Reserve’s announcement of a 25-basis point interest rate cut as it fell to an intraday low of $114,724. However, the flagship cryptocurrency has rebounded to reclaim the $117,000 mark and is currently trading around $117,500. While most analysts expect prices to push higher, one prominent analyst has warned of a crash towards $100,000.