Today's aggressive rate cut, doubling the widely expected 25 bps reduction, signals deepening concerns about the health of the U.S. economy.

Bitcoin (CRYPTO: BTC) and the wider digital asset market are expected to experience sustained growth following the U.S.

The stock market is on fire on Thursday and that has extended to cryptocurrencies as well. Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068.

The bitcoin market is bracing for a volatile month as the U.S. Federal Reserve’s anticipated interest rate cut looms large.

The news supported cryptocurrency prices, with bitcoin recently near $61,000 and ether above $2,300. Crypto asset prices tend to rise on signs of monetary easing, as they are broadly seen as risk-on assets even as some investors tout their use as safe havens.

Crypto March is higher as investors digest the first rate cut from the Fed in four years. Finance says it's seen a huge uptick in crypto interest from companies and professional investors. And Crypto World heads to DC to attend a major crypto rally and talk to executives from Coinbase about the conversations they're having with lawmakers.

Bitcoin and other major cryptocurrencies surge as Federal Reserve cuts rates, sparking investor interest in high-growth assets like cryptos.

Cryptocurrencies continued their rally for the second day following the Fed's rate cut. Bitcoin and Ethereum led the gains, with Avalanche surging 9%. The broader market also saw significant gains. Experts see further gains in the Q4 period.