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BTC price: Why is Bitcoin, XRP, and other crypto down on Fed rate cut when the stock market is up?

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Much of the cryptocurrency market is down today despite the Federal Reserve’s highly anticipated interest rate cut. What gives? As we enter the 2025 home stretch, Bitcoin is once again down, and dipped below $90,000 on Thursday, following the Federal Reserve’s highly anticipated interest rate cut by 25 basis points on December 10.