Crypto stocks surge as bitcoin rallies above $62K

Bitcoin (BTC-USD) is rallying off of the Federal Reserve's landmark interest rate cut, rising over $3,000 since the central bank's announcement yesterday. Crypto stocks like Riot Platforms (RIOT), MicroStrategy (MSTR), exchange platform Coinbase (COIN), and bitcoin miner Marathon Digital (MARA) are climbing higher Thursday morning.

Morning Brief hosts Seana Smith and Brad Smith weigh in on what the rate-cutting environment means for the crypto space, referencing Standard Chartered head of crypto research Geoff Kendrick's forecast that sees bitcoin skyrocketing to $200,000 by the end of 2025 regardless of who wins this year's presidential election.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

Well, crypto linked stocks, micro strategy, Coinbase Riot and Marathon all getting boost after the fed cut interest rates and Cryptocurrency.

Also on the rise, Bitcoin hovering around 63,000.

Jared was just touching on this.

But again, when you look at that broad movement to the upside here, Brad, lots of questions about what exactly that upside could potentially look like.

We were talking to a strategist, a close follower here of crypto earlier on in the week and he was very Optim, very optimistic bullish.

Some would say, maybe not too realistic just in terms of how high he sees Bitcoin potentially getting by year end and then beyond into 2025 I believe he said regardless of even who was elected in the White House, he sees Bitcoin was at 200,000, 200,000, 200,000 by the end of 2025.

So we're not saying that that maybe is too realistic.

But again, when you see this upward movement here, Bitcoin, not necessarily huge surprise given the trading and historically how Bitcoin is traded off the back of news like this.

Yeah, 200,000 by the end of 2025 is what I'm reading in that note that we have gotten earlier this week.

Look, it comes back to what we were talking with Jared and Anne about a little bit earlier on.

And what are some of the risk appetite type of trades that take place when you do see a cutting cycle start to initiate?

That's probably why we are and likely why we are seeing the move that we are seeing.

You know, even me, I'm sitting here asking myself, wait a minute.

We just made it through a Bitcoin having.

When's the next one?

Because if we're gonna kick off this cutting cycle, it's not too early to start thinking about when that next co Bitcoin having is uh seems like we're a ways off from that and perhaps we'll be out of a cutting cycle by then.

But March 26th, 2028 that's the early best guess out there.

So don't hold your breath on that one as of right now.

But a lot to happen between now and then, I mean, we'll be swearing squarely in the throes of another conversation around the general election by that point.

But in this near term period of time, more of the inclination to understand how each side of the aisle is going to rally around how there needs to either be regulation or clearance for crypto.

Uh that is going to be perhaps one of the larger catalysts that continues to move Bitcoin and Cryptocurrency.

More largely at this juncture.