According to ChainCatcher, Bitcoin recorded its biggest one-day gain in nearly two months on Wednesday, as weak U.S. economic data increased the possibility of a summer interest rate cut by the Federal Reserve.
Bitcoin, by market value, rose more than 7.5% yesterday to $66,250, its biggest gain since March 20, according to data from TradingView and CoinDesk. Like other risk assets, Bitcoin is sensitive to expected changes in the monetary policy stance of major central banks and rallies when fiat borrowing costs are expected to fall.
