Bitcoin was little changed after the Federal Reserve cut borrowing rates for the first time since the Covid pandemic shut down the economy more than four years ago, helping cryptocurrencies break into the mainstream.
The U.S. central bank cut its benchmark interest rate by half a percentage point. Projections released after its two-day meeting showed that a slim majority, 10 of 19 policymakers, favored cutting rates by at least another half-point over their two remaining meetings in 2024.
