Bitcoin Surrenders Post Fed Rate Cut; Pullback Awaited

Bitcoin slipped below $10,000 on Thursday after the Federal Reserve cut benchmark lending rates by 25 basis points.
The BTC/USD instrument settled a new session low towards $9,585.86 on San Francisco-based Coinbase exchange. That brought the pair’s week-to-date losses close to 7 percent.
Bitcoin price slips following the Federal Reserve’s announcement of a rate cut | Image credits: TradingView.com
Hawkish Fed Bad for Bitcoin
The move downhill occurred despite the presence of so-calle