Crypto stocks soar as Bitcoin spikes above $62,000

BTC-USD price went over $62,000, up more than $3,000 after the Federal Reserve announced a big interest rate cut. Crypto-related stocks have gone up because of this rise. Riot Platforms (RIOT), MicroStrategy (MSTR), Coinbase (COIN), and bitcoin miner Marathon Digital (MARA) were all up in early Thursday trade.

Seana Smith and Brad Smith, hosts of The Morning Brief, talked about how the Fed’s rate cuts might affect the crypto market as a whole. Their article talked about what Standard Chartered’s head of crypto research, Geoff Kendrick, said about how Bitcoin could skyrocket to $200,000 by the end of 2025, no matter who wins the election this year.

Investors are looking forward to more changes in the digital currency space since crypto stocks are going up. Watch the whole episode of Morning Brief for more expert analysis.