As of 8 a.m. ET, the price of bitcoin, or 1 BTC, was $62,661.23. The crypto’s highest intraday price in the past year was $73,750.07 on March 14, 2024. The chart above is pulling data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.

Key Takeaways Bitcoin topped $63,000 a day after Federal Reserve cut rates by 50 basis points.Lower rates could benefit cryptocurrencies and other assets perceived as risky.MicroStrategy stock jumped a day after amid a proposed a $700 million debt offering in an effort to buy more bitcoin.

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.

Bitcoin’s all-time high was on March 14, 2024, trading at $73,750.07 per bitcoin. The lowest intraday price that the crypto traded in the past year was $25,781.12 on Sep. 13, 2023. The original crypto is up by 119% year over year.

The central bank’s decision to slash interest rates by a half point is lifting risk-on assets, including Bitcoin and other cryptocurrencies.

Bitcoin’s price climbed on Wednesday in anticipation of an interest rate cut by the Federal Reserve, while data showing an improvement in capital flows into spot exchange-traded funds also aided sentiment.