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Fed Cuts Interest Rates by 50 Basis Points, Bitcoin Briefly Hits $61K Before Sell-Off

Market participants were uncertain about the size of the rate cut prior to the Fed meeting, laying the groundwork for market volatility.

Federal Reserve Chair Jerome Powell speaks at the Brookings Institute in Washington, D.C. on Nov. 30, 2022. (Helene Braun/CoinDesk)
Federal Reserve Chair Jerome Powell speaks at the Brookings Institute in Washington, D.C. on Nov. 30, 2022. (Helene Braun/CoinDesk)