Federal Reserve Cuts Interest Rates by 50 Basis Points, Bitcoin (BTC) Price Briefly Hits $61K

In the minutes following the FOMC decision, the price of bitcoin (BTC) shot up 1.2% to $61,000, then fell below $60,000, mostly flat over the past 24 hours. U.S. equities erased all their early gains on the Fed decision, with the tech-heavy Nasdaq 100 and the S&P 500 closing the session lower by 0.3%. Gold first surged to hit a new all-time high over $2,600, then retraced to end the day in the red.