Bitcoin rose to around $77,200 on Wednesday, joined by gains in XRP, Ether, and Solana as easing Treasury yields and lower oil prices helped restore appetite for risk assets.
Crypto markets staged a broad recovery after a Senate vote moved to curtail President Donald Trump’s war powers related to Iran, reducing geopolitical uncertainty that had pressured global markets in recent sessions.
The Senate approved the measure 50–47 following seven unsuccessful attempts since the conflict escalated in late February. The decision signaled growing resistance to expanded executive military authority and contributed to an improved market tone.
Bitcoin, the largest cryptocurrency by market capitalization, increased about 0.5% from midnight UTC to reach $77,200. XRP, Ether, and Solana advanced between 0.4% and 0.8%, according to CoinDesk data. The move came after five consecutive days of losses, during which BTC dropped from roughly $82,000 to near $76,000 amid rising Treasury yields and significant outflows from U.S. spot Bitcoin ETFs.
Broader financial markets also supported the rebound. WTI crude oil futures declined 0.75% to $103.42, while yields on the 10-year and 2-year U.S. Treasury notes each fell by more than two basis points. Nasdaq futures climbed 0.33%, reflecting a modest improvement in risk sentiment.
Sentiment in the crypto sector was further lifted after President Donald Trump directed the Federal Reserve on Tuesday to assess how depository institutions could expand access to payment services. The proposal is viewed as potentially important for digital assets, which have long faced friction in gaining consistent banking access and deeper integration into traditional finance.
“Wider access to payment rails and depository services can improve institutional confidence, liquidity, settlement efficiency, and long-term adoption,” said Naeem Aslam, CIO at Zaye Capital Markets.
Investors are now focused on the upcoming release of the April Federal Reserve meeting minutes, scheduled for Wednesday at 18:00 UTC, which may offer further clues on the outlook for inflation and interest rates.
“The April FOMC meeting minutes will be closely watched for how policymakers are balancing persistent inflation against emerging growth risks,” said Dessislava Ianeva, analyst at Nexo.
