Bitcoin Dips Below $90,000 After Fed Cut Widens Stocks Split

Bitcoin veered back toward the lower portion of its recent trading range amid lingering concern about demand for risky assets.

The original cryptocurrency dipped below $90,000 for the first time in two days, retreating as much as 3.4% on Thursday in New York. Bitcoin has traded in a loosely defined range of between $95,000 and $85,000 for the past month. Smaller tokens also retreated, with Ether shedding as much as 5.8% of its value.