Crypto Stocks Soar on Strong Gains for Bitcoin and Ethereum

Crypto stocks surged on Friday as Bitcoin and Ethereum posted strong gains.

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

Alice Liu, head of research at CoinMarketCap, said the recent rate hikes by the Federal Reserve and Bank of Japan may have already been priced in, suggesting that these moves did not significantly impact the market.

The US dollar strengthened against the yen following the Bank of Japan's rate hike, but investors remained skeptical about further increases.