The purchasing of bitcoins by investors in the United States skyrocketed after the Federal Reserve declared its plans to cut interest rates.
BTC customer demand in the United States rose to its highest in 39 days as the US Federal Reserve continued to cement expectations of lower interest rates, data showed.
“Bitcoin demand in the US increased today as the Fed announced that the cycle of reducing interest rates will start now,” said CryptoQuant’s Julio Moreno in an Aug. 24 X-post.