Cryptocurrency-related stocks gained on Thursday, in line with broader stock markets, as digital assets continued to gain on improved risk appetite after latest data signaled that the economy is starting to cool. Wholesale inflation unexpectedly slid in March , while retail inflation showed signs of moderating , albeit slowly. This reinforced expectations of the Federal Reserve pausing its rate-hiking campaign in June, after one more 25-basis point increase in May. Bitcoin ( BTC-USD ) rose 1.3% to $30.5K, while ethereum ( ETH-USD ) jumped 4.9% to $2K at the time of print. Ethereum ( ETH-USD ) hit its highest level since last August following the network's successful Shanghai software upgrade . Bitcoin ( BTC-USD ) earlier this crossed $30K for the first time in 10 months. Markus Thielen, head of research at Matrixport, believes this is "an opportune time to have exposure to bitcoin ( BTC-USD ) mining", as these stocks are currently undervalued. Crypto miners rose, including: CleanSpark ( CLSK ) +20.1% ., Bit Digital ( BTBT ) +19.6% , Marathon Digital ( MARA ) +15.9% , Hut 8 Mining ( HUT ) +12.5% , Riot Platforms ( RIOT ) +10.1% . Exchanges in the green: Bakkt ( BKKT ) +8.3% , Coinbase ( COIN ) +3.2% . SA contributor Logan Kane believes the rally in risk assets is likely overdone. "There are plenty of warning signs that the risk-on rally is driven largely by FOMO. However, the fundamental case for BTC is intriguing compared with other risk assets."
