Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.

The Federal Reserve on Wednesday reduced its key policy rate by half a percentage point, its first cut since March 2020 and the biggest cut in 16 years. Bitcoin edged up 0.2% Wednesday afternoon to around $60,

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Bitcoin is set to rise on a weekly basis following a Fed rate cut, with investors embracing risk-on sentiment in the crypto market.

Bitcoin traded near $60,000 after Fed cut rates by 50 basis points.Fed members expect median benchmark rates to come down to 4.4% by

The Federal Reserve has initiated its long-anticipated easing cycle, potentially setting the stage for a bullish trend in risk assets, including Bitcoin (CRYPTO:

The news supported cryptocurrency prices, with bitcoin recently near $61,000 and ether above $2,300. Crypto asset prices tend to rise on signs of monetary easing, as they are broadly seen as risk-on assets even as some investors tout their use as safe havens.

As of publication, BTC has surged 1.66% over the past 24 hours and was seen trading at $63,434. The Fed’s move has also lifted the overall crypto market, with the total market cap rising 2% in response.

Altcoins were the better performer after the Fed's decision to lower rates on Wednesday.Cryptocurrencies excluding ether and bitcoin have risen