Cryptocurrency-related stocks are trading higher before the market opens, as investors hope for a rate cut from the Federal Reserve.

In pre-market trading on Friday, cryptocurrency-related stocks rose with the prices of Bitcoin and Ethereum, as the market widely expected that the US employment data to be released later in the day would increase the possibility of the Federal Reserve cutting interest rates later this month. The rising stocks include: Strategy up 2.3%, Circle Internet Group up 0.6%, Coinbase up 1.6%, Bullish up 1.3%, Galaxy Digital up 1.3%, Hut 8 up 1.7%, Hive Digital Technologies up 1.1%, MARA Holdings up 1.8%, Cleanspark up 1.4%, Riot Platforms up 2%, TeraWulf up 0.7%, Bit Digital up 2.8%, SharpLink Gaming up 3.2%, Bitdeer Technologies up 2.9%. Cryptocurrency prices also rose: Bitcoin up 1.63%, Ethereum up 2.41%.