Bitcoin Reclaims $81,000 as Fed Hike Bets Fade, Zcash Explodes 16%

Bitcoin rose above $81,000 in Asia trade on Friday after easing concerns that the Federal Reserve will raise US interest rates again, reviving demand for cryptocurrencies and other risk-sensitive assets.The biggest cryptocurrency was trading at $80,982․96, up 4․58% in the past 24 hours, at the latest snapshot․

The repricing of U․S.interest-rate expectations was fast, with market pricing assigning a 50% likelihood to a Federal Reserve interest rate hike in September, compared with above 63% earlier in the week.CME FedWatch, which estimates interest rate change probabilities based on prices posted on 30-Day Fed Funds futures contracts, is closely followed by investors and market commentators as a gauge of the market’s expectations․

Comments from Fed Governor Christopher Waller that he would back a pause in rate rises if price pressures continued to ease also boosted the view that the Fed would halt its tightening cycle. The shift in expectations helped Treasuries and gold extend gains made in New York trade, while riskier assets regained favor․

ZEC▲$465.18 saw the largest percentage rise, gaining 16․33% to a price of $955․12 within 24 hours. This was followed by HYPE▲$70.78 — the token for Hyperliquid — which rose 4․95% to $86․31, and XRP▲$1.13, which rose 6․36% to $1․44․