Bitcoin has surged to a three-week high of $61,337, marking a significant increase of 6.4% amid optimism surrounding a potential reduction in Federal Reserve interest rates. This rally has positively influenced the broader cryptocurrency market, with Bitcoin Cash (BCH) rising 9.81% to $339.63 and Wrapped Bitcoin (WBTC) gaining 4.46% to $60,157. The overall cryptocurrency sector is experiencing renewed interest, with altcoins like Celestia and Immutable X seeing double-digit percentage gains. Analysts suggest that lower interest rates would boost demand for speculative assets like cryptocurrencies. Despite this positive momentum, Bitcoin's price remains below its summer highs, indicating ongoing volatility in the market. The trading volume for Bitcoin Cash has increased by 98% over the past week, reflecting heightened investor activity.