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Crypto

Bitcoin and Ethereum Rally Sends Crypto Stocks Soaring

Guavy AI Editorial Team
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Crypto stocks surged on Friday as Bitcoin and Ethereum rallied sharply.

Bitcoin rose 5.7% to $80,941.54, while Ethereum climbed 5.9% to $2,594.32.

The cryptocurrency market value increased despite recent rate hikes by the Federal Reserve and Bank of Japan, suggesting these moves were already priced in, according to Alice Liu, head of research at CoinMarketCap.

Liu noted that 'more important question now is how higher funding costs affect positioning.'

Crypto stocks jumped on Friday as Bitcoin and Ethereum rallied sharply. Coinbase Global (COIN) rose 11.2%, while Strategy Inc. (SORL), known for its Bitcoin holdings, soared 12.9%.

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