Bitcoin back above $77,500, XRP leads majors as Fed hike odds slide to 62%
Bitcoin has rebounded above $77,500 while XRP leads gains among major cryptocurrencies amid shifting Federal Reserve interest rate expectations. Market analysts are monitoring the impact of rising Treasury yields and geopolitical instability in the Middle East on investor sentiment.
Why it matters
Cryptocurrency markets are increasingly sensitive to macroeconomic indicators like Fed policy and global inflation trends driven by energy prices.
XRP led the majors at $1.36, up almost 3%. BNB added almost 2% to just under $692 and solana 2% to hold the $100 line, while tron rose about 1% to roughly 33 cents and hyperliquid's HYPE was flat just above $82. Ether lagged the board at just under $2,400.
Over seven days ether is down almost 4%, tron about 3%, XRP roughly 3% and bitcoin about 1%, leaving zcash at $817 and HYPE as the only majors holding weekly gains.
Bitfinex analysts said in an email that the average cost basis of every active investor on the network was pegged at $76,350, and bitcoin came within $50 of it before buyers stepped in. The level has absorbed sellers who bought in February and March all week, exiting at breakeven rather than at a loss.
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