Bitcoin Surges Past $81,000 on Eased Rate Hike Odds and Improved Risk Appetite

Bitcoin's price rose above $81,000 on Friday after Fed Governor Christopher Waller signaled support for holding interest rates steady this month. This led to a sharp decline in September rate hike odds, easing pressure on yields and reviving demand for Bitcoin.

Total crypto market capitalization climbed to $2.72 trillion, with liquidations reaching $691 million over the past 24 hours. The Crypto Fear and Greed Index reached 78, firmly in greed territory, up from extreme fear just weeks ago.

Most major tokens followed Bitcoin higher, with Zcash leading the top ten with a sharp 16.4% gain, extending its rebound to an eight-year high near $945. XRP followed with a 7.7% rise, and Hyperliquid added 6.5% on renewed derivatives demand.