Bitcoin and Ether Prices Soar on Fed Pause Bets

Bitcoin surged to $81,818 on Thursday after investors bet that the Federal Reserve would hold off on further monetary tightening. This sentiment shift has boosted risk assets across the board.

The price of Ether also rose, increasing by 4.3% to $2,494.80 over the past 24 hours, according to CoinGecko. The rally in both Bitcoin and Ether was amplified in the equity market, with treasury and brokerage stocks tied to crypto rising at a faster pace.

Strategy, which holds 846,000 bitcoin on its balance sheet, closed up 17.56% to $144.82, while Bitmine Immersion Technologies gained 12% to $25.84 after the price of Ether rose. Coinbase and Robinhood also saw significant gains, with prices rising by 10.14% and 16.57%, respectively.

Zcash was another notable mover, increasing by 14.5% over 24 hours and 16.7% over the past week to $942.50, putting it within striking distance of $1,000 for the first time in years.