Bitcoin Climbs Above $81,000 as Crypto Markets Rebound Ahead of Federal Reserve Decision

Cryptocurrency markets advanced on Wednesday, with $BTC rising 2% to cross above $81,000 during Asian trading hours ¹. The move follows a marketwide retreat on Monday that briefly sent Bitcoin below $80,000 for the first time in more than a week ¹. At the time of writing, Bitcoin traded at $81,279, while total crypto market capitalization stood at $2.70T.

Altcoins accompanied the upward movement, led by $HYPE gaining roughly 6% to just above $81 and $ZEC rising 5% to approximately $1,300 ¹. Major layer-1 and payment assets also posted advances: $SOL and $BNB each added about 3% to trade above $102 and near $760 respectively, $XRP increased 3% to $1.32, $ETH advanced 2% to around $2,360, and $DOGE moved up 4% ¹. $TRX trailed the broader sector with an increase of roughly 1% ¹.

Rate Decision Looms

The price recovery comes after a research note published on Tuesday by Galaxy, in which Alex Thorn, the firm's head of firmwide research, argued that investors should accumulate Bitcoin ¹. Thorn assessed that the bear market likely concluded in June, when Bitcoin changed hands below $58,000 ¹. The current price behavior aligns with broader macroeconomic consolidation observed in recent trading, including the boundaries highlighted in a Bitfinex report pinning Bitcoin's range between $81,300 and $84,400 ahead of the FOMC.

Market attention remains centered on the Federal Reserve's monetary policy announcement and the subsequent press conference led by Fed Chair Kevin Warsh later on Wednesday ¹. Traders are closely monitoring the briefing for forward guidance regarding a potential December interest rate hike, an outcome that typically increases borrowing costs and reduces liquidity across risk-sensitive asset classes ¹.