Cryptocurrency markets skyrocketed into new territory Friday after Federal Reserve Chair Jerome Powell signaled that interest rate reductions could be imminent, pushing the Dow to its first 800-point plus gain this year. That ended the Dow’s longest streak without a new high since Dec. 4, 2024, according to Dow Jones Market Data, and signaled a major surge of optimism at the prospect of some economic policy relief.

Cryptos were major stars of that rally.

Ethereum (ETH) climbed over 15% to reach a new all-time high of $4,885, surpassing its previous record from November 2021, while Solana (SOL) swung between 8% to 12.5% in a 24-hour period, nudging just past the longtime “psychological”…