Fed hike bets ease; bitcoin tops $81,000 as crypto rebounds

A pullback in expectations for further Federal Reserve rate hikes, paired with a softer U.S. dollar, sparked a broad rebound across crypto markets on Thursday, CoinDesk reported. Bitcoin climbed back above $80,000, lifting major tokens including ether, Solana and XRP, while U.S. equities also advanced. Bitcoin rose about 5% over the past 24 hours to roughly $81,300. Ether gained about 4.7% to $2,497, XRP jumped nearly 8%, and BNB and Solana added around 5% each. Risk appetite broadened into smaller tokens. Zcash surged about 18%. Tokens such as HYPE and LIT notched fresh all-time highs, and several high-volatility names posted single-day gains of more than 10%. Flows into U.S. spot crypto ETFs strengthened as well. Spot bitcoin ETFs recorded net inflows of about $731 million on Thursday, the largest single-day intake since January. Spot ether ETFs took in around $141 million. The sharp move higher triggered heavy derivatives liquidations. Over the past 24 hours, more than 119,000 traders were liquidated for a total exceeding $500 million, suggesting bearish positioning was forcibly unwound during the rally. Attention now turns to U.S. labor-market data. The report said the immediate catalyst was cooling expectations for additional Fed tightening, with the upcoming August U.S. jobs report seen as a key input ahead of the September policy meeting. If employment figures do not materially beat forecasts, the rebound in risk assets could extend; a stronger-than-expected report that revives tightening bets could quickly reintroduce volatility. In the near term, crypto price action is likely to remain tied to macro data and shifting rate expectations.