Bitcoin (BTC) should regain $64,000 “very quickly” as the United States Federal Reserve lowers interest rates. In its latest monthly update report on Sept. 17, quantitative Bitcoin and digital asset fund Capriole Investments said that BTC price action was at a key crossroads.

The stock market is on fire on Thursday and that has extended to cryptocurrencies as well. Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068.

The Federal Reserve surprised investors earlier this week by enacting an aggressive 50 basis point cut in benchmark interest rates, marking the first such move since March 2020.