Cryptocurrencies were mixed Thursday as traders digested news that the Federal Reserve plans to slash rates more than expected in 2024. Stocks extended their Fed-fueled rally that saw the Dow Jones Industrial Average surpass 37,000 for the first time. 

Bitcoin, which initially rose as much as 2.6% Wednesday following the central bank’s announcement, faltered Thursday, dipping 1% to hover around $42,500. Bitcoin, while down 2.3% over the past five days, is still on track to end the year well into the green, currently sitting close to 160% higher year-to-date. 

Ether (ETH) also bounced following the Fed’s Federal Open Markets Committee meeting, and managed to sustain the rally into…

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