Bitcoin temporarily recovers to $94,000...Strategy surges 3% on interest rate cut expectations

Bitcoin and other crypto assets rose en masse on the back of expectations of an interest rate cut, and the stock price of Strategy, one of the world's largest Bitcoin holders, soared by nearly 3%.
On the 9th (local time) in the New York Stock Exchange, Strategy recorded a price of $188.99, up 2.89% from the previous day. In addition, the largest cryptocurrency exchange in the United States,
Inbase rose 1.15% and Bitcoin mining company Mala Holdings rose 1.66%. These stock gains came as Bitcoin briefly hit $94,000 on expectations of interest rate cuts.
As of 8 a.m. on the 10th, according to CoinMarketCap, Bitcoin was up 2.27% over the 24-hour period to 90,000.
It was trading at $2,969. At one point, it surged more than 4% to $94,601, the first time it had recovered above the $94,000 mark since the 17th of last month.
Major altcoins also rose, with Ethereum up 6.53% to $3,335 and Ripple up 1.5
The Fed is expected to cut interest rates by 0.25% at this FOMC meeting.
The trend is gaining momentum, with the Chicago Mercantile Exchange (CME), where interest rate futures are traded, pricing in a nearly 90% probability of that happening.
The Federal Reserve is scheduled to announce the results of its FOMC meeting at 2:00 p.m. on the 10th (4:00 a.m. on the 11th Japan time).