Cryptocurrency markets climbed into Friday, with major digital assets posting solid gains after mixed U.S. economic data reinforced expectations for Federal Reserve rate cuts, creating a favorable backdrop for risk assets.

Bitcoin is up 1.29% to $115,329.58, briefly touching $116,000 overnight in its latest push. The world’s largest cryptocurrency has benefited from growing institutional adoption and expectations for looser monetary policy.

Ethereum outpaced Bitcoin with a 2.94% gain to $4,505.37, while Solana emerged as the day’s standout performer, surging 4.19% to $232.65. Solana’s rally received additional momentum from news that Forward Industries closed a $1.65 billion PIPE investment co-sponsored by Multicoin Capital, Jump…