Bitcoin Climbs Toward $84,000 as Fed's Williams Sees No Rate Hikes in 2027 — Zcash Leads Gains, Short Sellers Squeezed
Bitcoin is pushing toward $84,000 again, helped by softer words from the Federal Reserve. Bitcoin rose about 1.5% to just under $83,900 in Wednesday Asian trading after New York Fed President John Williams said he saw no need for more rate hikes in 2027, a comment that weakened the dollar and lifted risk markets across Asia.
Altcoins moved higher with it. Zcash led the major coins with a gain of nearly 7% to around $1,270, while Solana and Dogecoin each rose about 2.5% and Ethereum added about 2% to near $2,520. XRP, BNB and HYPE also gained between 1% and 2%, showing the rebound was broad, even if it is still only a recovery inside a nervous market.
The relief comes with a warning. Williams also said one more hike this year may still be appropriate, so traders are not treating this as a clear end to tight policy. Asian chip stocks helped the mood, with Samsung Electronics and SK Hynix bouncing after a five-day losing run, and the wider Asia-Pacific index rose about 0.7%. But oil kept climbing, with Brent near $106 a barrel on fresh Middle East tension, which keeps inflation pressure alive.
Leverage data shows the pain has flipped to the bears. Bitcoin saw about $32.5 million in liquidations in 24 hours, with shorts making up roughly 78% of that total, while Ethereum saw about $26.4 million, with shorts near 60%. Total market liquidations were about $154 million. That is the opposite of earlier this week, when long traders took most of the losses below $82,000. Early fund data also helped a little, with about $110 million of preliminary inflows into US spot Bitcoin ETFs and about $25 million into Ethereum ETFs on October 13, though one good day does not confirm a full reversal for Ether.
For traders, the levels are clear. Holding the $83,200 to $83,400 zone keeps the recovery alive, and a clean break above $84,000 to $84,300 could open a move toward $85,000 and then $86,000 to $86,700. Losing $82,000 would put $81,000 back in focus. Ethereum still needs to reclaim about $2,545 to $2,580, with support much lower at $2,400 to $2,440. The next US inflation report will test Williams' view — a soft reading could rule out that last hike and give Bitcoin room to retest $85,000, while a hot reading could end the bounce quickly.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk, The Crypto Times, CoinGlass, The Hindu BusinessLine, CoinGecko
Comments
Post a Comment