Bitcoin Reclaims $81,000 on Fed Rate Pause Signals

Crypto markets have rebounded in response to Federal Reserve rate hike concerns. Bitcoin has regained the $81,000 mark for the first time since May, rising 5.4% to $81,500.00. Ethereum also rose 5.1% to $2,511.90 and Solana increased by 5.8% to $105.30.

The total crypto market cap has grown by 4.7% to $2.82 trillion as investor risk appetite returns. This follows comments from Fed Governor Christopher Waller who stated that he would support leaving rates unchanged, pending a dramatic shift in inflation figures.

Crypto ETFs have seen an improvement in inflows, with around $101.1 million in net inflows yesterday, led by the iShares Bitcoin Trust ETF (IBIT). However, Ethereum ETFs broke a 12-day winning streak of inflows yesterday.