The cryptocurrency market is experiencing a significant rally, with Bitcoin rebounding to $87,000 from $80,000, pushing the total market capitalization above $3 trillion. This surge comes as the Crypto Fear and Greed Index drops to 15, indicating potential buying opportunities for investors.
Additionally, traders on Polymarket are increasingly betting on a Federal Reserve rate cut in December, with odds rising to over 80% from just 22% on November 20. The rally is further supported by increased leverage and bullish open interest in futures markets, suggesting continued momentum in the crypto space.
Crypto Market Surges as Bitcoin Hits $87,000 Amid Rate Cut Speculation
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