The world’s largest cryptocurrencies continued to rally after Wall Street’s closing bell on Thursday as investors digested the latest data on the United States labor market which showed that initial jobless claims came in lower than expected, seemingly sparking optimism that the country could avoid recession.
Crypto-related stocks saw significant gains during the New York session, with Coinbase closing the session up 7.39% and MicroStrategy Inc. following with a 9.07% increase. Earlier this week, concerns about Washington’s economic stability recently dragged Bitcoin’s price down to its lowest point since February.
Bitcoin surged 13.02% to sell at $62,307.21 at 7:06 pm ET. Ethereum soared 15.20% to $2,702.700 at the same time.
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