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,

If the Fed does fail to achieve a “soft-landing,” Nvidia, Tesla and others can be viewed as a potential defensive play for investors.

Investor expectations had largely shifted towards a dovish outcome in the days leading up to the Fed's move on Wednesday, with money markets pricing in around a 65% chance of a 50 basis point (bp) cut.