The
news
though,
sent
expectations
of
the
U.S.
Federal
Reserve
cutting
its
benchmark
interest
rate
by
another
50
basis
points
at
its
November
meeting
to
61%
from
50%
a
day
earlier,
according
to
CME
FedWatch.
Shortly
after,
the
latest
figures
showed
a
sizable
jump
in
the
U.S.
M2
money
supply
in
August.
The
combination
of
easier
China
and
U.S.
monetary
policies
and
rising
money
supply
appeared
to
be
the
catalyst
for
bitcoin’s
sustained
rise
throughout
afternoon
trading.
Gold
too,
liked
the
news,
jumping
1.4%
to
yet
another
record
high
of
$2,690
per
ounce.