Statue Unveiling Coincides With Fed Rate Cut

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The unveiling of the Trump Bitcoin statue came on the same day the Federal Reserve announced its first 25-basis-point rate cut of the year, lowering the benchmark range to 4.0%–4.25%.

Lower interest rates are generally seen as supportive for risk assets such as Bitcoin, as they reduce borrowing costs and increase liquidity. Bitcoin is currently trading around $117,122, after briefly dipping below the key $115,000 level.