Bitcoin climbs toward $84,000 after Fed’s Williams sees no rate hikes in 2027
- Bitcoin rose 1.5 percent to nearly $83,900 after New York Fed President John Williams said he saw no need for further rate increases in 2027, weakening the dollar and lifting Asian markets.
- Zcash led major cryptocurrencies with a gain of nearly 7 percent, while Solana and Dogecoin each rose 2.5 percent and Ether added 2 percent.
- Thursday’s U.S. inflation report could determine whether the Fed raises rates once more this year and whether Bitcoin can retest $85,000.
Bitcoin rose 1.5% to just under $83,900 as of Wednesday Asian morning hours. New York Fed President John Williams said he saw no need for further rate hikes in 2027, which weakened the dollar and lifted stocks across Asia.
ZEC led the majors, jumping nearly 7% to about $1,270. SOL and DOGE each gained 2.5%, and ether rose 2% to about $2,520. XRP, BNB and HYPE added between 1% and 2%, while TRX lagged with a gain of less than 1%, according to CoinDesk data.
Williams did say one more hike this year may be appropriate. His comments still helped the S&P 500 pare its losses on Tuesday, and S&P 500 futures rose 0.2% with the index hovering near last week’s record.
Chipmakers recovered in Asia. Samsung Electronics and SK Hynix both rallied, snapping the five-day losing streak that had wiped out leveraged bets on chip stocks at crypto exchanges earlier this week. MSCI’s Asia Pacific equities index rose 0.7%, rebounding from two days of losses that had pushed it to its lowest close since August. Chip-equipment maker ASML reports earnings on Wednesday, and Taiwan Semiconductor Manufacturing reports on Thursday.