Traders betting on Fed fund contracts are pricing in a 65% implied probability of rates cut to a 4.5-5% range. PLUS: Circle announces partnership with Polymarket

Bitcoin is set to rise on a weekly basis following a Fed rate cut, with investors embracing risk-on sentiment in the crypto market.

The Bitcoin price recently invalidated the rounding top pattern as the bulls took charge of the price around the $57,681 support, pushing the price back above the $60,000 level, data from GeckoTerminal shows. BTC price has formed a rounding bottom pattern, which the bulls aim to capitalize on to push the price toward a sustained bullish stance.

This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to

Crypto March is higher as investors digest the first rate cut from the Fed in four years. Finance says it's seen a huge uptick in crypto interest from companies and professional investors. And Crypto World heads to DC to attend a major crypto rally and talk to executives from Coinbase about the conversations they're having with lawmakers.

Bitcoin and other major cryptocurrencies surge as Federal Reserve cuts rates, sparking investor interest in high-growth assets like cryptos.

Cryptocurrencies continued their rally for the second day following the Fed's rate cut. Bitcoin and Ethereum led the gains, with Avalanche surging 9%. The broader market also saw significant gains. Experts see further gains in the Q4 period.