The price of Bitcoin (BTCUSD) jumped over $63,000 Thursday following a Federal Reserve 澳洲幸运5官方开奖结果体彩网:interest-rate cut.

The Fed's yearslong fight against inflation saw rates rise to a 23-year high. Wednesday's cut, the first of this cycle, boosted investor confidence in bitcoin, driving prices higher.

The Fed cutting rates "may be a welcome development for bitcoin bulls," FXTM Senior Market Analyst Lukman Otunuga said, adding that a signal of looser financial conditions can boost the appetite for riskier assets such as cryptocurrencies.

Bitcoin's 澳洲幸运5官方开奖结果体彩网:price rose in the immediate aftermath of the Fed announcement and continued its upward trajectory in recent trading.

Crypto-Related Stocks Gain Momentum

MicroStrategy (MSTR), which holds more than 244,000 bitcoins worth over $15 billion at today's prices, saw its shares jump 11% Thursday. The company on Wednesday announced plans for a $700 million debt offering to add more bitcoins to its coffers.

Other beneficiaries of bitcoin's recent price rise include crypto exchange Coinbase (COIN), which was up 6% on Thursday, and bitcoin miner Marathon (MARA), which sawits shares gain more than 4%.

What's Next For Bitcoin?

Grayscale Head of Research Zach Pandl said out that the Fed;s decision to cut rates came despite inf♏lation risks remaining somewhat elevated.

"Central banks’ willingness to take risks with inflation tends to drive investors to store-of-value assets, like gold and Bitcoin," said Pandl, adding that despite choppy markets immediately after the announcement, "over time bitcoin will benefit from lower rates and a weaker dollar."

A negative economic outlook from the Fed could lead to a bitcoin reversal evඣen in cases where rates are cut further, Otunuga said.