Bitcoin (BTC-USD) and other major cryptocurrencies jumped in Thursday morning trading after the Federal Reserve delivered its first interest-rate cut since the onset of the pandemic and signalled further policy easing as the year draws to a close.

The largest digital token (BTC-USD) gapped up 6.3% to $63.2K, the highest level since late August. Ether (ETH-USD), the largest altcoin, accelerated 5.8% to $2.43K. Bitcoin remains about 15% below its all-time high of $73.1K in March, while ether is off some 50% from its record high of ~$4.60K in November 2021.

Some of the biggest intraday winners among token prices include sei (SEI-USD) +25.1%, celestia (TIA-USD) +20.4%, bittensor (TAO-USD) +19.1%, fetch.ai (FET-USD) +15.7% and aptos (APT-USD) +14.7%.

The swings come after the U.S. central bank cut rates by 50 basis points and signalled another 50 bps of easing by the end of the year. Lower borrowing costs can boost bitcoin's (BTC-USD) appeal by reducing the opportunity cost of holding non-yielding assets, while potentially driving more investment into riskier, high-growth assets like cryptos.

As the most influential central bank in the world delivered its first rate cut in four years, Bitcoin may be in store for a rollercoaster ride in the coming days," said Lukman Otunuga, senior market analyst at forex trading broker FXTM.

Most crypto-focused stocks also changed hands in the green at press time. Among the more notable gainers include MicroStrategy (MSTR) +9.1%, Coinbase Global (COIN) +6.7%, Hut 8 (HUT) +7.7%, Bitfarms (BITF) +5.9% and Bit Digital (BTBT) +7.3%. That coincides with the broader stock market opening Thursday's session at all-time highs.