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.

However, exchanges netflows narrowed by 278.4%. With Bitcoin prices racing beyond the $61,000 mark, 88% of Bitcoin holders are in profit, while 12% are at breakeven. Coinglass data shows 61,634 traders liquidated in the past 24 hours for $190.

Bitcoin (BTC) has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points. The next resistance is at $63k.