Federal Reserve Cuts Interest Rates by 50 Basis Points, Bitcoin (BTC) Price Briefly Hits $61K

In the minutes following the FOMC decision, the price of bitcoin (BTC) shot up 1.2% to $61,000 before paring gains. The largest cryptocurrency is down 0.5% over the past 24 hours. U.S. equities also jumped higher, with the tech-heavy Nasdaq up 0.8% and the S&P 500 gaining 0.6%. Gold was mostly flat below $2,600.