Cryptocurrencies rose as part of a broad market rally Thursday, one day after the Federal Reserve delivered a half percentage point reduction in interest rates, the first in more than four years.The price of bitcoin was recently higher by 5% at $63,

The Federal Reserve implemented a 50 basis point rate cut, with expectations of further reductions to bring the median benchmark rate to 4.4% by

Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.