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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Bitcoin continued to lose ground after hawkish remarks from Federal Reserve Chair Jerome Powell dampened expectations for another interest-rate cut this year. The largest cryptocurrency fell as much as 3.1% to below $108,000 before trimming losses on Thursday. The retreat followed the Fed’s widely expected decision to lower its benchmark rate by a quarter percentage point to 3.75%-4% on Wednesday — its second straight reduction — while Powell cautioned investors against assuming further cuts would follow.
