Bitcoin recovered toward $81,000 on Wednesday after slipping close to $79,000 over the weekend, as traders awaited the Federal Reserve’s interest-rate decision. The cryptocurrency rose nearly 2% during Asian morning trading, while the broader market also moved higher alongside gains in technology stocks.
Zcash was the strongest major token in the early rebound, rising 8% to about $1,320 and moving back above $1,300 after Monday’s selloff. Hyperliquid gained nearly 5% to around $81, while XRP and Dogecoin advanced about 3% each. Ether rose 2% to slightly above $2,350, Solana added about 2% to $102, BNB gained 1%, and Tron rose less than 1%.
Lisa Cook and Beth Hammack dissented, preferring a quarter-point increase. The committee said economic activity was expanding at a strong pace, while also noting that inflation remained elevated and that additional information would guide its policy decisions.
The decision left traders focused on whether the central bank could raise rates at its December meeting. Higher rates can weigh on assets such as cryptocurrencies by making borrowing more expensive and reducing the appeal of riskier investments.
Trading before giving back part of the advance. The post-decision move followed a broader recovery in U.S. Equities, although the market response was restrained rather than a decisive break higher.
Galaxy research head Alex Thorn said Bitcoin’s bear market likely ended in June, when the token traded below $58,000, and described its current position as an accumulation phase. He pointed to Bitcoin’s return above its 50-week moving average and lighter selling pressure, while the market continued to test whether the token could sustain levels above $80,000. A daily close above $82,500 was identified as a possible sign that the recovery was gaining momentum, not as confirmation that a rally had begun.