Bitcoin recovered toward $81,000 in Asian trading on Wednesday as cryptocurrency markets positioned for the Federal Reserve’s interest-rate decision later in the day. The move reversed much of the weekend decline toward $79,000, while several major tokens posted larger gains and traders focused on possible signals about a December rate increase.
Bitcoin recovers before the Fed decision
Bitcoin rose nearly 2% to just below $81,000, according to CoinDesk, as investors waited for the Federal Reserve’s decision and comments from Fed Chair Kevin Warsh. The rebound came after the cryptocurrency had slipped to almost $79,000 over the weekend.
The wider crypto market also moved higher. Zcash was the strongest performer among the major tokens listed, rising 8% to about $1,320 and moving back above $1,300 following Monday’s selloff. HYPE gained nearly 5% to approximately $81, while XRP and Dogecoin each advanced roughly 3%.
Ether added about 2% to trade slightly above $2,350, and Solana rose around 2% to $102. BNB increased 1%, while TRX recorded a gain of less than 1%.
The price moves came alongside an extended climb in technology stocks, with major cryptocurrencies outpacing Bitcoin during the session. Crypto assets are often treated as risk-sensitive markets, meaning expectations about interest rates and broader appetite for technology and growth assets can influence trading across both areas.
Galaxy says bitcoin may be in an accumulation phase
The latest advance followed a more optimistic assessment from Galaxy. The firm told investors that Bitcoin’s bear market likely ended in June and that the cryptocurrency had entered an accumulation phase.
Alex Thorn, Galaxy’s head of firmwide research, said the current phase resembles periods that preceded previous Bitcoin advances. His view is notable because Bitcoin has recently struggled to hold the $80,000 level despite recovering from its June low.
Thorn said the market bottom probably came in June, when Bitcoin traded below $58,000. He cited the cryptocurrency’s return above its 50-week moving average, reduced selling pressure and rising U.S. debt as factors supporting the assessment.
A 50-week moving average tracks the average closing price over the latest 50 weeks. Traders commonly use it as a reference for the longer-term direction of an asset, although moving back above the measure does not by itself guarantee that a recovery will continue.
Galaxy’s comments point to a shift in how some market participants are interpreting recent price action: rather than viewing the market as still in a broad decline, they see current trading as a period in which investors may be rebuilding positions before a potential advance. The firm’s assessment remains a market view, not a confirmed change in trend.
Rate outlook remains central to crypto trading
The Federal Reserve’s decision was the immediate focus for traders. Attention was expected to turn to Warsh’s press conference, particularly for any indication of whether the central bank could raise interest rates in December.
Higher interest rates increase borrowing costs and can reduce the appeal of riskier assets, including cryptocurrencies. For that reason, even language that does not change the day’s policy decision can affect markets if it alters expectations for future rate moves.
Bitcoin’s next technical level was also being watched. A daily close above $82,500 could suggest that the recovery is gaining momentum, according to the market assessment in the source material. Bitcoin’s move near $81,000 therefore left it close to, but below, that level as traders waited for the Fed’s communication.
Moneyiar market picture
Moneyiar market data recorded at the stated times showed Bitcoin at $80,430.51, down 0.08% over 24 hours and 1.32% over seven days as of October 25 at 22:39, Tehran time.
Zcash was priced at $1,217.54, with a 24-hour gain of 1.24% and a seven-day increase of 9.57% as of October 25 at 22:38. The figures are Moneyiar data and were recorded before the Wednesday Asian-market moves described above, so they are not a real-time measure of the later session.
Cronos stood at $0.05429, down 1.83% over 24 hours and 3.03% over seven days as of October 25 at 22:39. NEAR Protocol was at $4.6167, up 3.36% over 24 hours but down 6.21% over seven days as of October 25 at 22:38.
Together, the data show a mixed recent picture: Bitcoin and Cronos remained lower over the seven-day period, while Zcash had posted a strong weekly gain and NEAR’s daily rise had not yet erased its weekly decline.
