Major cryptocurrencies experienced notable gains on Thursday, led by Dogecoin (DOGE) and Cardano (ADA), which rose 5% and 4% respectively. Bitcoin (BTC) approached the $100,000 mark, buoyed by dovish signals from the Federal Reserve and expectations of a significant U.S.-UK trade deal teased by President Donald Trump.
Other leading tokens, including Ether (ETH), BNB, XRP, and Solana (SOL), posted gains of 2-3%, while the CoinDesk 20 index climbed 2.2% overall. The anticipation of reduced tariff pressure and potential Federal Reserve rate cuts has revived risk appetite across markets. The Fed’s decision to maintain current interest rates left traders speculating on the timeline for potential rate reductions, with markets pricing in 100 basis points of easing by year-end.
Industry experts noted that while the economic outlook remains volatile with risks of stagflation, Bitcoin stands out as a key beneficiary, as evidenced by record inflows into spot Bitcoin ETFs like BlackRock’s IBIT. Investors increasingly see crypto assets as vital for diversified, resilient portfolios amid ongoing global uncertainty.