US Fed officials lowered borrowing costs for a third straight time, but reined in the number of reductions they expect in 2025. Chair Jerome Powell said more progress is needed on inflation before further loosening monetary policy.
Bitcoin briefly sank below US$100,000 ($136,250) as the US Federal Reserve’s (US Fed) cautious outlook for interest-rate cuts hurt speculative investments.
The largest digital asset hit US$98,760 at one point on Thursday — about US$10,000 shy of the record high set earlier this week — before retaking the six-figure level. Tokens such as Ether and meme-crowd favorite Dogecoin also struggled.
