US-listed crypto stocks jump after bumper rate cut from Fed

FILE PHOTO: A woman sits by a Bitcoin sign at the Bitcoin Plaza, in Ilopango, El Salvador, May 21, 2024. REUTERS/Jose Cabezas/File Photo

"Bitcoin and other digital assets have historically thrived in low-interest-rate environments. This move could signal a return of liquidity, sparking a risk-on sentiment and fueling a sharp rally." Cryptocurrency exchange Coinbase Global jumped 4 per cent and software firm MicroStrategy, one of bitcoin's biggest corporate backers, gained 5 per cent.

However, that turned choppy in recent weeks with investors drifting in and out of the sector amid shifting odds of a Republican win in the upcoming presidential election.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore stocks rose on Thursday—STI gained 0.5%72 stocks gained compared to 20 that declined, with 46.7 million securities traded, totalling S$56.5 million in value.
Source: IndependentSG - 🏆 2. / 72 Read more »

Singapore stocks dip on Thursday—STI dropped by 0.3%In the broader market, there were 54 gainers compared to 41 losers, with 23.9 million securities traded, valued at S$30.7 million.
Source: IndependentSG - 🏆 2. / 72 Read more »

Singapore stocks opened with little change on Thursday—STI rose by 0.02% Singapore News%
Source: IndependentSG - 🏆 2. / 72 Read more »

Singapore stocks could rally after Fed rate cut, say analystsThe expected Fed move would especially boost rate-sensitive sectors like Reits, telcos and industrials.
Source: straits_times - 🏆 5. / 69 Read more »