The recent dovish rate cut by the Federal Reserve has strengthened the bullish sentiment for major cryptocurrencies, including Bitcoin, according to analysts. This monetary policy shift is seen as a catalyst for potential price increases in digital assets as lower interest rates typically encourage investment in riskier assets like cryptocurrencies. However, the continued resilience of the dollar index presents a contrasting narrative. Despite the Fed's rate cut, the dollar's strength could temper the bullish momentum for cryptocurrencies, as a strong dollar often leads to reduced demand for alternative assets.