Bitcoin broke through 76,800 to hit a new high, Ethereum stood at $2,900, the Federal Reserve cut interest rates by 1 yard, and U.S. stocks rose more than fell.

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Bitcoin reached a new high of $76,848 on the morning of the 8th, after a brief downward correction following its previous record high of $76,422 on the 7th. As of the time of writing, it has slightly retreated to the $76,000 level, with a 24-hour gain of 1.08%. Ethereum has shown an even stronger rally, reaching a high of $2,955 before settling at $2,916, a 24-hour increase of 4.78%. Over the past 24 hours, the crypto market has seen $335 million in liquidations, with over 93,000 traders getting liquidated. The open interest in Bitcoin has reached a new all-time high of $46.6 billion, which may signal increased volatility or a potential short-term top. In the US stock market, the Federal Reserve announced a 25-basis-point interest rate cut to the 4.5%-4.75% range, in line with market expectations. This has helped drive gains in the major indices, with the Dow Jones Industrial Average, S&P 500, Nasdaq Composite, and Philadelphia Semiconductor Index all posting positive returns.

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