Bitcoin's climb, nearing $64,000, was driven by the Federal Reserve's 50 basis point rate cut, signifying potential easing in monetary policy that boosts risk appetite.
The broad-based CoinDesk 20 Index outperformed major cryptocurrencies, with altcoins like Solana and Avalanche seeing gains of 10%-15%, highlighting a strong market rally.
Jim Iuorio noted that non-yielding assets like bitcoin prefer lower interest rates, thriving in conditions that may reignite inflation, which supports their investment appeal.
Crypto-related stocks, including MicroStrategy and TeraWulf, experienced over 10% gains, reflecting the positive momentum in both cryptocurrency and traditional markets.
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