Bitcoin's price has surged above $117,000 following the Federal Reserve's decision to cut interest rates by 25 basis points, marking the first reduction since December 2024. The cryptocurrency is trading at $117,476, up 0.9% in the past 24 hours, as the rate cut has improved liquidity outlooks and weakened the U.S. dollar, boosting equities and crypto markets. Derivatives data shows increased market participation, with futures volume jumping 65.9% and open interest rising 1.6%. Technical analysis indicates Bitcoin is trading within the upper half of its Bollinger Bands, with resistance near $118,700. The MACD signals a buy, though caution is advised as momentum indicators approach overbought levels.