Bitcoin edged toward the lower end of its recent trading range as record rallies in other risk assets falter amid a mixed outlook for global growth and interest rates.
The largest cryptocurrency fell as much as 3.1% to below $108,000 before trimming losses on Thursday. The retreat followed the Federal Reserve’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 Chair Jerome Powell cautioned investors against assuming further cuts would follow.
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The decline ...