Bitcoin remained steady near its record high after the Federal Reserve cut its key policy rate by 25 basis points. The largest cryptocurrency edged up less than 0.1% on Thursday to around $76,275. Bitcoin hit a record high at $76,

Analysts expect a 0.25% rate cut this week, which has historically benefited assets like BTC by diluting the dollar's value and pushing investors towards alternative investments.

U.S. stocks ticked higher ahead of the Federal Reserve’s announcement about what it will do with interest rates. The S&P 500 was up 0.4% in early trading Thursday, though momentum slowed sharply from its surge a day before following Donald Trump’s presidential victory.

It settled Wednesday at $2,676.30, down 2.7%, or $73.40 — the largest daily dollar decline for a most-active contract since June 2021, according to Dow Jones Market Data. "Following the election results,