Major cryptocurrencies, such as Bitcoin and Ethereum, rose 4% and 3% on Thursday, with Bitcoin hitting its highest value in nearly two months.
The move comes a week after the Federal Reserve's latest interest rate cut of 50 basis points. Investors bet on another cut of similar size by the end of the year. In addition, optimism spread to the markets today on the latest news that China is considering injecting up to 1 trillion yuan ($142 billion) of capital into the country's largest state-owned banks.
At 1:05 pm ET, Bitcoin surged 4.01%, selling at $65,665. At the same time, Ethereum jumped 3.18%, going for $2,662.
