Bitcoin climbed 1.5% to nearly $83,900 during Wednesday’s Asian trading hours as comments from New York Fed President John Williams weighed on the U.S. dollar and supported regional stock markets. Williams said he saw no need for additional interest rate hikes in 2027, while investors awaited Thursday’s U.S. inflation report for further clues on monetary policy.
ZEC led gains among major cryptocurrencies, rising almost 7% to approximately $1,270. Solana (SOL) and Dogecoin (DOGE) each advanced 2.5%, while Ether (ETH) gained 2% to around $2,520. XRP, BNB and HYPE posted increases of between 1% and 2%. TRON (TRX) lagged behind, recording a gain of less than 1%, according to CoinDesk data.
Williams left open the possibility of one more interest rate increase this year, but his broader comments helped improve market sentiment. The S&P 500 recovered some of Tuesday’s losses, while futures for the index rose 0.2%, with the benchmark trading close to last week’s record high.
Asian semiconductor stocks also bounced back after five consecutive sessions of declines. Samsung Electronics and SK Hynix both rose, ending a losing streak that had led to liquidations of leveraged chip-stock positions on crypto exchanges earlier in the week. MSCI’s Asia-Pacific equity index gained 0.7%, recovering from two sessions of losses that had taken it to its lowest closing level since August.
Investors are also preparing for earnings reports from major semiconductor companies. ASML, which supplies chipmaking equipment, is scheduled to announce its results on Wednesday, followed by Taiwan Semiconductor Manufacturing Co. on Thursday.
Oil prices continued their upward trend as escalating attacks in the Middle East cast doubt on the recovery of energy shipments from the Persian Gulf. Brent crude rose 0.7% to approximately $106 per barrel, while U.S. crude prices extended their gains for a fifth consecutive session.
Thursday’s U.S. inflation figures are expected to provide a key test of the outlook for interest rates. If the data comes in sufficiently soft to reduce the likelihood of another Fed hike, Bitcoin could find support to make another attempt at $85,000.
