The price of Bitcoin, the main cryptocurrency, surged to an intraday high of $97,771 earlier today in the BitStamp Exchange.
On Wednesday, the US Federal Reserve is set to disclose its interest rate decision. Central banks are widely expected to keep interest rates unchanged.
In fact, Polymarket Bettors only sees a 2% chance of reducing the 25 base point rate.
This is because Federal Reserve Chairman Jerome Powell faces increasing pressure to cut interest rates. However, central banks are resisting such persistent calls as inflation exceeds the repeated 2% target.
According to a CNBC FED survey conducted in May, most respondents believe the Fed will ultimately cut interest rates due to economic issues.
