Bitcoin gains momentum as jobless claims fall, supporting risk appetite and raising bets on a soft US landing, with BTC nearing $65K and ETF demand rising.

Bitcoin edged higher after the Federal Reserve reduced borrowing rates for the first time since the Covid pandemic paralyzed the economy more than four years ago and helped cryptocurrencies break into the mainstream.

Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068. The entire crypto market is up big and so is the stock market,

Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.

Bitcoin and other major cryptocurrencies surge as Federal Reserve cuts rates, sparking investor interest in high-growth assets like cryptos.

The Fed's interest rate cuts did Bitcoin and the broader crypto market good, giving the world's top cryptocurrency a $3,000 gain and helping Ethereum leave its dark days behind.

The cryptocurrency market experienced a significant rally on Thursday, just one day after the Federal Reserve made the surprise move to cut interest rates by half a percentage point, marking the first such reduction in over four years.