Bitcoin Surges as Fed Signals Rate Cuts, Altcoins Follow Suit

Bitcoin bounced back above $43,000, leading a rally in the crypto market and digital asset-focused stocks, as the Federal Reserve projected interest rate cuts for next year. The Fed's dovish projection caused bond yields and the U.S. dollar index to fall, supporting a broad-market rally for risk-assets. Bitcoin's surge of almost 5% pushed it past $43,000, while altcoins like Avalanche, Cardano, and Injective posted gains of nearly 10%. Crypto-related stocks, including Coinbase, MicroStrategy, Marathon Digital, Riot Platforms, and CleanSpark, also saw significant increases. The Fed's decision to hold or reduce interest rates injected optimism among investors, extending to cryptocurrencies as well.