Fed Chair Jerome Powell's Remarks Ripple Through Crypto Market: Details

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Fed recently announced 25-basis-point interest rate cut

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The markets posted a reaction: Stocks continued to rise, with the S&P 500 on track for another record close. Bitcoin was also trading near its record high of over $76,000.On Thursday, the Federal Reserve announced a 25-basis-point interest rate decrease to the target range of 4.50%-4.75%, a move deemed favorable for"risk-on" assets like cryptocurrencies. Bitcoin extended its surge, on track to mark its fourth day of gains if today closes in green.

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