Bitcoin Slides Below $90,000 After Fed Cut Even as Stocks Rally

Bitcoin slipped in Asia trading hours while other risk assets gained after the US Federal Reserve cut interest rates and expressed optimism about the economy.

The original cryptocurrency fell as much as 2.7% to briefly dip below $90,000 on Thursday morning in Singapore, down from an intra-day high of $94,490 the day before, according to data compiled by Bloomberg. Smaller tokens including Ether, XRP and Solana also retreated.