Leading cryptocurrencies advanced Wednesday as indications of a rate cut by the Federal Reserve boosted investors’ confidence in riskier assets. What Happened: Bitcoin began to trend upward mid-day, sailing as high as $61,800 by market close. However, profit-taking pulled King Crypto down to the edge of $61,000. Ethereum, the second-largest cryptocurrency, spiked over $2,600 earlier in the day, later consolidating in the $2,630 – $2,650 range. Sentiment also improved amid reports that Democratic presidential candidate Kamala Harris would back measures to help grow the cryptocurrency industry. …
