Cryptocurrencies
Bitcoin Hits Three-Week High as Fed Spurs Demand for Risk Assets
- Correlations between crypto and stocks have jumped of late
- Markets reacting to a half-point cut and Fed policy stance
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Bitcoin touched a three-week high alongside a jump in global equities as an outsized Federal Reserve interest-rate cut rippled across markets.
The digital token rose as much as 4.9% before changing hands at $62,800 as of 8:56 a.m. Thursday in New York. Global stocks pushed higher, as traders adjusted to the start of an anticipated Fed easing cycle.