Bitcoin Rallies as Crypto Stocks Surge on Friday

Crypto stocks surged on Friday as major cryptocurrencies like Bitcoin and Ethereum recorded significant gains.

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

Alice Liu, head of research at CoinMarketCap, suggested that the recent rate hikes by the Federal Reserve and Bank of Japan had already been factored into the market's value.

The strengthening of Bitcoin against the yen following the Bank of Japan's rate hike was met with skepticism from investors, who remained doubtful of further increases in interest rates.