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Bitcoin climbed to $81,818, up 5.9% over the past 24 hours while Ether rose 4.3% to $2,494.80. Behind the move is growing bets that the Federal Reserve will hold off on further tightening, a shift in sentiment that has pulled risk assets higher across the board this week
The rally arrived after a choppier start to the week. Bitcoin and Ether had opened lower on Thursday as Brent crude pushed past $96 a barrel following U.S. airstrikes on Iranian targets, before recovering on hopes the strikes would prove short-lived. By Wednesday, the Fed-pause narrative had taken over as the dominant driver.
The move higher was amplified in the equity market. Strategy, which holds 846,000 bitcoin on its balance sheet, closed up 17.56% at $144.82, while Bitmine Immersion Technologies, which holds more than 5.9 million Ether worth roughly $15.6 billion, gained 12% to $25.84. Coinbase closed up 10.14% at $192.70 and Robinhood gained 16.57% to close at $124.72. The pattern is familiar: treasury and brokerage stocks tied to crypto tend to move at roughly twice the speed of the underlying assets, since each carries a layer of operating and balance-sheet leverage on top of the coins or trading volumes they are exposed to.
Zcash supplied the week’s other notable move. The privacy coin traded at $942.50, up 14.5% over 24 hours and 16.7% over the past week, according to CoinGecko, putting it within striking distance of $1,000 for the first time in years. The rally follows the U.S. Securities and Exchange Commission’s decision to close its investigation into the Zcash Foundation without pursuing enforcement action, removing a regulatory overhang that had weighed on the token. Traders have also pointed to a broader rotation into altcoins beyond memecoin and AI-linked tokens as Bitcoin consolidates at higher levels.
Whether the moves hold depends largely on the Fed. A pause in tightening would keep the current risk-on tone intact; any hawkish surprise at the next policy meeting could just as quickly reverse the leveraged gains in MSTR, COIN and HOOD that outpaced the underlying crypto rally this week.
Source: www.blockhead.co