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Bitcoin rises over 2% to $62.9k on renewed global rate cut optimism

Major cryptocurrencies surged on Friday as fresh signs of an easing US labor market fueled optimism about potential interest rate cuts this year, ahead of next week's crucial inflation data. Meanwhile, the global cryptocurrency market cap surged by 1.7% to around $2.33 trillion in the last 24 hours. As of 12:14 am, Bitcoin was up 2.2% at $62,922, while Ethereum was above the $3,000 level. Other major crypto tokens such as Solana (7%), Toncoin (12.1%), Dogecoin (3.4%), Shiba Inu (2.6%), Avalanche (3.7%), Chainlink (2%), and NEAR Protocol (4.4%) also surged. The volume of all stablecoins is now $58.67 billion, which is 92.17% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.


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