Bitcoin Fluctuates After Fed Cuts for First Time in Four Years
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Bitcoin was little changed after the Federal Reserve reduced borrowing rates for the first time since the Covid pandemic paralyzed the economy more than four years ago and helped cryptocurrencies break into the mainstream.
The US central bank lowered its benchmark interest rate by a half percentage point. Projections released following their two-day meeting showed a narrow majority, 10 of 19 officials, favored lowering rates by at least an additional half-point over their two remaining 2024 meetings.