Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.

Bitcoin touched a three-week high alongside a jump in global equities as an outsized Federal Reserve interest-rate cut rippled across markets.

Cryptocurrencies rose as part of a broad market rally Thursday, one day after the Federal Reserve delivered a half-percentage-point reduction in interest rates, the first in more than four years.The price of bitcoin was recently higher by 5% at $63,