Crypto Stocks Soar as Fed Rate Hike Expectations Cool

U.S. stock market observers noticed a shift in sentiment on Friday, as cryptocurrency-related stocks posted significant gains. TeraWulf (WULF.US) led the pack, increasing by over 8%, while IREN (IREN.US) rose by more than 7%. Other notable gainers included Robinhood (HOOD.US), MARA (MARA.US), and Cipher Digital (CIFR.US), each increasing by over 5%. Meanwhile, the U.S. Department of Labor released data showing that the country added 29,000 nonfarm jobs in September, a significant decrease from the downward-revised 133,000 in August and below the 12-month average of 45,000. This news, however, had a cooling effect on market expectations for a Federal Reserve rate hike in October. The cryptocurrency market as a whole fared well, with Bitcoin rising 1.93% to $85,679 and Ethereum gaining 0.89% to $2,710.