Geoff Kendrick, the global head of digital assets research at Standard Chartered — a cross-border bank — believes Bitcoin (BTC) will likely reach $200,000 by the end of 2025 regardless of who wins the 2024 United States Presidential election.

Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.

Bitcoin is set to rise on a weekly basis following a Fed rate cut, with investors embracing risk-on sentiment in the crypto market.

The stock market is on fire on Thursday and that has extended to cryptocurrencies as well. Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068.

Cryptocurrencies rose as part of a broad market rally Thursday, one day after the Federal Reserve delivered a half-percentage-point reduction in interest rates, the first in more than four years.The price of bitcoin was recently higher by 5% at $63,

The news supported cryptocurrency prices, with bitcoin recently near $61,000 and ether above $2,300. Crypto asset prices tend to rise on signs of monetary easing, as they are broadly seen as risk-on assets even as some investors tout their use as safe havens.

As of publication, BTC has surged 1.66% over the past 24 hours and was seen trading at $63,434. The Fed’s move has also lifted the overall crypto market, with the total market cap rising 2% in response.