Cryptocurrency prices have surged after the Federal Reserve cut interest rates for the first time in more than four years, part of a broader market rally. Bitcoin rose 3.5% intraday to $62,417.48, according to Coin Metrics data, following a rebound in the cryptocurrency before the central bank's decision on Wednesday. Bitcoin, like stocks, initially surged, then pulled back as traders digested the news. Stocks tied to the price of Bitcoin climbed. Coinbase, a Bitcoin trading operator, rose 5%. MicroStrategy, widely used as a high-risk investment tool for Bitcoin, surged 5%. Yuya Hasegawa, a crypto market analyst at Japanese Bitcoin exchange Bitbank, said the Bank of Japan tomorrow is likely to maintain its policy rate unchanged, but signs of further rate hikes could boost the yen and potentially trigger a reversal of yen carry trades, which could lead to a sell-off in Japanese stocks, and risk aversion could spill over into the crypto market. The next potential short-term target is around $65,000. (Jin Shi)