Bitcoin (COIN:BTCUSD) staged a solid rebound on Thursday, lifting itself back above the $91,000 threshold as growing conviction around a potential U.S. Federal Reserve rate cut boosted demand for risk-sensitive assets.
The cryptocurrency had briefly fallen to around $80,000 last Friday — its lowest point since April — before reversing sharply. By 06:19 ET (11:19 GMT), Bitcoin was trading 5.1% higher at $91,527.5.
Market pricing now reflects roughly an 85% likelihood of a 25-basis-point reduction at the Fed’s next meeting, a steep jump from expectations just a week earlier. Lower borrowing costs typically increase liquidity and improve appetite for speculative assets, giving Bitcoin an additional tailwind.
Still, not all traders are convinced the momentum will last. U.S. inflation has remained stubborn, and recent economic data releases have sent mixed signals. This has left some uncertainty over how aggressively the Fed will ease policy — and whether Bitcoin’s rally marks the start of a sustained move or simply a short-lived bounce.
Optimism among bulls has also been supported by speculation that Kevin Hassett could become the next Fed chair. Some investors view him as more inclined toward looser monetary policy, a stance that would generally support crypto prices and other high-risk assets.
Naver Financial to Acquire Upbit Operator in $10 Billion Deal
South Korea’s Naver Financial, the payments arm of tech group Naver Corp (KS:035420), announced plans to purchase Dunamu — the company behind leading local crypto exchange Upbit — in a deal valued at approximately $10 billion.
The acquisition will take place through a stock-swap transaction that will make Dunamu a fully owned subsidiary of Naver Financial.
Both firms said the combination will unite Naver’s extensive digital-payments network with Upbit’s dominant position in the Korean cryptocurrency market. The deal also marks one of the country’s most significant fintech and digital-asset mergers, potentially paving the way for Naver to expand into blockchain-driven financial services pending regulatory approval.
Crypto Market Today: Altcoins Move Higher
Altcoins broadly advanced alongside Bitcoin’s climb.
- Ethereum gained 3.9% to $3,029.29.
- XRP edged up 0.8% to $2.1874.
- Solana added 3.6%.
- Cardano rose 3.4%.
- Dogecoin improved 1.8%.
- $TRUMP inched 0.3% higher.