Bitcoin and Crypto Stocks Rally on Rising Odds of Fed Rate Cut
Crypto-related stocks are climbing broadly on Friday, led by bitcoin miners, as investors react to surging expectations for a Federal Reserve rate cut in early December.
Bitcoin (BTC) touched $93,000 in early U.S. trading before pulling back slightly to $92,500, marking a 2% gain over the past 24 hours and roughly 15% higher than last week’s panic low near $80,000.
The rally coincides with a dramatic shift in Fed rate expectations. Earlier this month, hawkish comments had reduced the likelihood of a December rate cut to around 30%. By Friday morning, dovish signals pushed the odds to 89%, fueling gains across crypto markets.
Mining stocks are leading the sector’s rally. CleanSpark (CLSK) jumped 12.5%, Bitfarms (BITF) gained 11%, and Riot Platforms (RIOT) rose 9%. Bitcoin treasury firm KindlyMD (NAKA) climbed 12%, while Michael Saylor’s Strategy (MSTR) advanced 3.8%.
Precious metals are also strong in traditional markets. Silver hit a record high near $55 per ounce, up 3% on the day and now valued at roughly $3.1 trillion globally. Gold traded above $4,200 per ounce.
U.S. equities opened modestly higher, with the Nasdaq up 0.4% and the S&P 500 rising 0.3%.
