Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.

The Federal Reserve on Wednesday reduced its key policy rate by half a percentage point, its first cut since March 2020 and the biggest cut in 16 years. Bitcoin edged up 0.2% Wednesday afternoon to around $60,

Bitcoin may have outperformed stocks in the aftermath of the Federal Reserve’s decision to lower interest rates on Wednesday, but the true winners in the crypto universe are altcoins.

The news supported cryptocurrency prices, with bitcoin recently near $61,000 and ether above $2,300. Crypto asset prices tend to rise on signs of monetary easing, as they are broadly seen as risk-on assets even as some investors tout their use as safe havens.

Bitcoin is set to rise on a weekly basis following a Fed rate cut, with investors embracing risk-on sentiment in the crypto market.

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Bitcoin climbs 6% to $63,000 after the Federal Reserve cuts rates by 50 basis points, boosting investor optimism.

The Federal Reserve has initiated its long-anticipated easing cycle, potentially setting the stage for a bullish trend in risk assets, including Bitcoin (CRYPTO:

The stock market is on fire on Thursday and that has extended to cryptocurrencies as well. Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068.

Bitcoin and S&P500 see gains following a 0.25% Fed rate cut, marking a major move after four years, impacting both crypto and stock markets.