CoinDesk
Bitcoin climbed about 4% to trade over $81,000 in Asian morning hours on Friday after traders cut the odds of a Federal Reserve rate increase this month to roughly even, down from above 63% earlier in the week, according to the CME FedWatch tool. Softer rate expectations pulled bond yields back and pushed buyers into risk assets across the board, with Zcash leading the majors on a nearly 15% daily gain. U.S. spot bitcoin ETFs took in about $277 million on provisional Thursday figures, though the funds have yet to string together a sustained run of buying.
Why it matters
Fed Governor Christopher Waller gave the move its trigger, saying he would support holding rates steady if price pressures kept easing. The comment repriced the front end of the rates curve and pulled the dollar to its lowest level since May, while Treasuries and gold held the gains they made in the New York session. A weaker dollar and a dovish Fed lean are the textbook conditions for a broad risk-on bid, and bitcoin absorbed a stronger yen, which usually drains carry-trade liquidity, without giving back its gains.
Market impact
The altcoin tape followed bitcoin higher but the leaders split. Zcash extended a week-long run to roughly 20%, leaving it well clear of the rest of the market. Hyperliquid's HYPE added about 6% and XRP nearly 6%, while ether, BNB and dogecoin each gained between 4% and 5%. Solana rose nearly 3% and TRON managed just over 1%, the weakest of the majors. The seven-day picture is far more muted: bitcoin up about 1%, ether and XRP close to flat, and solana and TRON both down nearly 3%, per CoinDesk data. Global equities extended their advance, with MSCI's Asia Pacific gauge climbing nearly 1% and the All Country World Index rising for a third day. Whether ETF inflows stay positive through the end of the week is the next test for institutional conviction.
Frequently asked questions
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Why did bitcoin jump above $81,000 on Friday?
Traders cut the odds of a Federal Reserve rate hike this month to roughly even, down from above 63% earlier in the week per CME FedWatch, after Fed Governor Christopher Waller said he would support holding rates steady if price pressures kept easing.
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What was the biggest gainer among major cryptocurrencies?
Zcash led with a nearly 15% daily gain and roughly 20% on the week, extending a run that left it well clear of the rest of the market. Hyperliquid's HYPE added about 6% and XRP nearly 6%.
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How much did U.S. spot bitcoin ETFs take in on Thursday?
U.S. spot bitcoin ETFs recorded about $277 million in provisional net inflows on Thursday, though the funds had alternated between inflows and outflows over the prior four sessions and have yet to confirm a sustained buying streak.
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Did the stronger yen hurt bitcoin's rally?
The yen strengthened about 2% on Thursday, which usually drains liquidity from carry trades that fund risk-asset positions, but bitcoin held its gains. Whether that resilience continues depends on ETF inflows staying positive.
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How did the rest of the crypto market perform on the week?
The daily move was broad, but the seven-day picture was muted: bitcoin up about 1%, ether and XRP close to flat, and solana and TRON both down nearly 3%, according to CoinDesk data.
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