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Bitcoin Price Cuts To $25,000 After Fed Rate Decision

Cryptocurrency prices fell late Wednesday and traded lower Thursday after the Federal Reserve skipped a rate hike but signaled for two additional interest rate increases later this year. The price of Bitcoin retreated below $25,000 for the first time since March overnight Wednesday while Ethereum tumbled to three-month lows. Bitcoin recovered to $25,450 Thursday afternoon from its overnight low of $24,789. The move marked the first time the world's largest cryptocurrency fell below its $25,000 level since mid-March after swinging from $26,000 to $28,000 for the last several weeks in May.

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