Bitcoin, Ethereum, and other major cryptocurrencies have surged alongside U.S. stocks following a reassuring outlook from Federal Reserve Chair Jerome Powell. Bitcoin increased to over $85,648, marking a rise of more than 4% in a day, while Ethereum rose by over 7% to around $2,038. Solana also experienced significant gains, climbing by 8% to nearly $134. The broader cryptocurrency market is up by over 3%, with a total market capitalization reaching $2.91 trillion. The Fed has decided to maintain interest rates, providing a sense of stability amid economic uncertainties, which has positively impacted both crypto and equity markets. Notably, spot Bitcoin exchange-traded funds (ETFs) have seen over $500 million in net inflows recently, emphasizing increased investor confidence in crypto assets amidst a general market rally.

Source đź”—