Bitcoin held around $79,403 on Thursday, paring earlier gains after testing $82,000 earlier in the week. The largest cryptocurrency rose 1.2% in afternoon trading in Brasília, while Ether gained 1.5% to $2,493.88. Solana surged 9.6%, XRP advanced about 3%, and Dogecoin climbed 2.4%, reflecting broad strength across the sector.
The market’s rebound follows a pullback from weekly highs, as investors weighed shifting macroeconomic signals and regulatory developments. The U.S. Federal Reserve’s preferred inflation gauge, the PCE price index, remained above the central bank’s 2% annual target in July, keeping policy expectations in focus ahead of the Fed’s September meeting. Meanwhile, U.S. Treasury interventions in bond markets have contributed to a rotation into alternative assets, including cryptocurrencies, in a trade some market participants describe as a response to perceived currency debasement.
Regulatory scrutiny remains a key overhang. The U.S. Securities and Exchange Commission is reportedly advancing stricter rules on crypto custody services, according to CoinDesk. In Congress, the Clarity Act—intended to establish a broader regulatory framework for digital assets—continues to face delays. President Donald Trump called for clearer crypto regulations last week, adding to the policy uncertainty.
Geopolitical developments also influenced risk sentiment. Reports of a potential ceasefire involving Russia, along with an agreement between Iran and Oman to ease commercial shipping through the Strait of Hormuz, briefly eased oil price pressures and contributed to a softer inflation outlook. Brent crude futures slipped in response, easing concerns over energy-driven price spikes.
Among memecoins, the $TRUMP token rose 6.2%, reflecting continued speculative interest tied to political developments. Nvidia’s strong earnings and AI-driven growth outlook also supported a rotation into technology equities, indirectly benefiting risk assets including crypto.
