Crypto Market Surges $112B as Bitcoin Reclaims $81K

The crypto market added over $112 billion on September 3 as Bitcoin reclaimed its spot above $81,000.

This recovery came after a decline in US government bond yields and comments from Federal Reserve Governor Christopher Waller that eased fears of an imminent interest-rate increase.

Waller stated that he could support keeping interest rates unchanged at the Federal Reserve's September meeting if inflation continues to cool, providing some relief for investors who were concerned about rising borrowing costs.

The reduction in yields and a weaker dollar made safer investments less attractive, contributing to the positive moves in cryptocurrencies. This shift also extended to US stocks linked to digital assets, which rose, indicating increased demand for riskier investments.