Cryptocurrencies
Bitcoin Tests $100,000 After Fed Spurs Worst Drop Since September
- Fed’s signal of fewer rate cuts sent a shudder across markets
- Largest digital asset endured losses amid a rise in volatility
Bitcoin fell below $100,000 as the Federal Reserve’s cautious outlook for interest-rate cuts hurt speculative investments.
The largest digital asset slipped as low as 4% to $96,789 on Thursday in New York — more than $10,000 shy of the record high set on Tuesday. Other crypto tokens, which tend to be more volatile, have fared worse. Ether is down 5% while meme-crowd favorite Dogecoin is down 12%.