Here’s Why Crypto Set the Market On Fire Yesterday
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”…
