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The Fed cut rates, but bitcoin didn't budge. What gives?
Bitcoin traded 26% away from its record high Thursday, while the Dow Jones Industrial Average and S&P 500 closed at record highs. Bitcoin was mostly unchanged on Thursday, even as the Federal Reserve on Wednesday cut its policy rate by 25 basis points and signaled that it will begin injecting additional liquidity into short-term funding markets starting Friday. Many crypto bulls had expected that another Fed rate cut would serve as a tailwind for the digital asset. Unfortunately for them, that didn't happen. But while investors wait to see where bitcoin prices might be headed next, there are some interesting ... (full story)
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