The Fed's hiatus is a 'go signal' for investors

According to analysts, prospective rate cuts leading into 2024 could positively impact cryptocurrency stocks and investment products.

Federal Reserve to slow and possibly lower interest rates in the upcoming year, a move many expect will provide a "positive boost" to cryptocurrencies and connected stocks.

Blackrock fund manager Jeffrey Rosenberg characterized the Fed's rate pause as a "green light" for investors during a Bloomberg interview, after which the S&P 500 rallied 1.37%.

The decision has already impacted some crypto stocks: following the announcement, Coinbase (COIN) and MicroStrategy (MSTR) saw shares increase by 7.8% and 5% respectively, while Bitcoin miner Marathon Digital (MARA) jumped 12.6%.