India, July 10 -- Bitcoin rallied close to its all-time high as markets heaved a sigh of relief following firm rate cut hints contained in the FOMC minutes released on Wednesday. Massive inflows to Bitcoin Spot ETF products in the U.S. as well as the mounting political pressure on the Fed to quickly ease rates boosted market sentiment. Bitcoin touched a high of $111,925.38 during the past 24 hours versus the all-time-high of $111,970.17 recorded 2 months ago.
Markets found solace in the inclination for monetary easing revealed in the Minutes. Most participants assessed that some reduction in the target range for the federal funds rate this year would likely be appropriate. Participants noted that the upward pressure on inflation from tarif...