Crypto Surge: Bitcoin Breaks $100,000 Benchmark Amid Mixed Market Movements

Bitcoin has soared past the $100,000 mark, causing a jump in cryptocurrency-related stocks. However, the U.S. stock futures remain mostly unchanged due to investor attention on employment data. Federal Reserve discussions suggest a slower pace in cutting interest rates, although traders foresee a potential easing in December.

In a dramatic market shift, Bitcoin surpassed the $100,000 level, leading to a significant boost in related stocks. Cryptocurrency exchange Coinbase Global climbed by 3.5%, while MARA Holdings and MicroStrategy saw increases of 5.6% and 6.5% respectively.

Despite this surge in the crypto sector, U.S. stock index futures exhibited minimal changes as investors waited for crucial employment data. The S&P 500, Nasdaq, and Dow all reached record highs previously, driven by positive results from major tech firms like Salesforce and Marvell Technology.

Federal Reserve Chair Jerome Powell hinted at a cautious approach towards further interest rate cuts, reflecting a stronger economic outlook than anticipated. With a Fed meeting looming in December, traders predict a 74% chance of a modest policy easing.

(With inputs from agencies.)