Bitcoin posted an uptick on Monday, taking the digital asset back above the $43,000 mark. The price move comes as markets anticipate the initiation of the U.S. central bank's rate-cutting cycle to begin at May's Federal Open Market Committee (FOMC) meeting.

The world's largest cryptocurrency by market capitalization increased by over 0.5% in the past 24 hours to $43,100 at 7:30 a.m. ET, according to The Block's Price Page.

According to ETC Group Head of Research André Dragosch, market participants expect the Fed to commence its rate-cutting cycle in May, based on what is currently priced into Fed funds futures.

Fed funds futures contracts essentially represent the market's expectations for future interest rates. Investors can use these futures contracts to express opinions on the …