Live updates: Bitcoin edges higher ahead of Fed decision Wednesday afternoon. — SkimNews
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- Bitcoin rose 2% to just above $81,000 during Wednesday Asian morning hours, rebounding from Monday’s drop below $80,000.
- HYPE gained nearly 6% to trade just above $81, outperforming other major cryptocurrencies in the session.
- ZEC advanced 5% to around $1,300, while DOGE, BNB, and SOL posted gains between 3% and 4%.
- Ether increased 2% to about $2,360 and XRP rose 3% to $1.32, according to CoinDesk data.
- Galaxy released a note Tuesday urging investors to accumulate bitcoin, with head of research Alex Thorn stating the bear market likely ended in June at $58,000.
- Fed Chair Kevin Warsh is set to speak after the rate decision, with traders watching for hints of a December hike that could pressure risk assets.
Why it matters: A rate hike would raise borrowing costs and typically pull capital from speculative assets like crypto; Warsh’s comments could shift trader positioning, especially after Monday’s sell-off showed sensitivity to tightening expectations. Galaxy’s bullish call adds counterweight to near-term fears.
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