Cryptocurrencies rose during a broad market rally Thursday, one day after the Federal Reserve delivered a large interest rate cut.

Joe McCann, CEO of crypto hedge fund Asymmetric, believes a large interest rate cut by the U.S. Federal Reserve would benefit crypto markets.

The crypto market surged on Thursday, with Bitcoin and Ethereum leading the gains, as Bank of America (BofA) revised its Fed rate cut forecast.

U.S.-listed crypto shares jumped on Thursday after a half-percentage point interest rate cut boosted risk appetite, adding to the momentum of an industry that has already secured some big wins this year.

A widely followed crypto analyst is updating his outlook on Ethereum (ETH) and other digital assets after the Fed cut rates this week.

The stock market is on fire on Thursday and that has extended to cryptocurrencies as well. Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068.

With the US Federal Reserve cutting interest rates by 50 basis points on September 18, the crypto market is preparing for an upward thrust. However, a few

Bitcoin and S&P500 see gains following a 0.25% Fed rate cut, marking a major move after four years, impacting both crypto and stock markets.

The Federal Reserve’s recent decision to cut interest rates by half a point has raised questions about its potential impact on both traditional financial markets and cryptocurrencies. Roundtable anchor,

Today’s anticipated reduction in the federal funds rate could "trigger" additional upside in cryptocurrency prices.

The global crypto market turned green after a long period of anticipation building around the expected Federal Reserve rate cuts. The cumulative crypto market cap gained by almost 3% over the last day to stand at $2.