Bitcoin climbs toward $81,000 before Fed decision; ZEC, ETH lead gains
Crypto markets climb into the Fed decision
Bitcoin rose nearly 2% to just under $81,000 in Asian morning hours on Wednesday, recovering from a weekend drop toward $79,000. Traders were watching the Federal Reserve's interest rate decision expected later in the day.
Major cryptocurrencies advanced broadly. ZEC was the top mover, jumping 8% to about $1,320, after a selloff on Monday. Ether gained 2% to just above $2,350, while SOL rose about 2% to $102. HYPE added nearly 5%, and XRP and DOGE each rose roughly 3%. BNB gained 1%, and TRX lagged with a rise of less than 1%, according to CoinDesk data.
Galaxy says Bitcoin may have bottomed in June
The market bounce came a day after Galaxy told investors now was a good time to accumulate Bitcoin. Alex Thorn, head of firmwide research at Galaxy, said in a note, "We think the bear market ended in June and that bitcoin is in the accumulation phase that has preceded every prior advance."
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