Crypto Market Rockets to $2.73T as Fed Rate Hike Fears Evaporate

Wall Street rallied Thursday as investors reduced rate hike expectations following comments from Federal Reserve board member Christopher Waller. Waller indicated support for maintaining the Fed funds target rate if inflationary pressures decrease. Simultaneously, the crypto market valuation surged to $2.73 trillion as traders returned to digital assets. This broad market increase saw Bitcoin climb approximately 4.8%, reaching $81,364, while Ethereum also experienced gains as fears of further Federal Reserve rate increases evaporated.