During Friday’s Asian morning hours, Bitcoin changed hands above $81,000, registering an increase of roughly 4% over a 24-hour window, largely driven by shifts in the interest rate environment. Based on the CME FedWatch tool, market participants now estimate the probability of a Federal Reserve rate hike this month at approximately even odds, representing a drop from over 63% earlier in the week. The reduction in hawkish expectations pulled bond yields downward and encouraged purchasing across various risk-on assets.
Fed Governor Christopher Waller provided the catalyst for the shift by stating he would favor maintaining steady rates if inflation pressures continue to abate. Both Treasuries and gold managed to retain the gains secured during the preceding New York session.
Among major digital assets, Zcash stood out with a nearly 15% surge over 24 hours and a 20% rise across the week, building on momentum that separates it from the broader market. Meanwhile, Hyperliquid’s HYPE climbed roughly 6% and XRP advanced close to 6%.
Ether, BNB, and dogecoin each posted gains ranging from 4% to 5%, whereas solana climbed nearly 3% and TRON advanced just over 1%, making TRON the lagging major asset. Looking at the seven-day timeframe, performance is much quieter, with Bitcoin up about 1%, ether and XRP remaining relatively flat, and both solana and TRON declining by close to 3%, according to CoinDesk figures.
Provisional data indicates that U.S. spot Bitcoin exchange-traded funds pulled in approximately $277 million on Thursday, following four days characterized by alternating inflows and outflows. These investment vehicles have yet to establish a sustained buying streak that would definitively validate genuine institutional demand rather than a temporary single-day recovery.
International stock markets extended their upward trajectory, with the MSCI Asia Pacific index advancing nearly 1% and the All Country World Index progressing for a third straight session. The U.S. dollar stabilized after dropping to its lowest point since May, while an index tracking Asian currencies reached marks not seen since October 2024.
In Asia, the Japanese yen commanded primary attention, appreciating approximately 2% on Thursday to wipe out an entire month of gradual decline. Traders increased their expectations for Bank_of_Japan interest rate hikes while remaining watchful regarding potential official intervention aimed at strengthening the currency further.
The yen subsequently retreated slightly from those peaks to trade near 156.35 per dollar, after touching 155.30 during the previous session.
A stronger yen typically removes liquidity from carry trades that finance positions in risk-oriented markets, yet Bitcoin absorbed the currency fluctuation without surrendering its price gains. Whether ETF inflows maintain positive momentum through the conclusion of the week will determine whether institutional investors viewed the rate repricing as a lasting structural change.
Originally published at https://www.coindesk.com/markets/2026/09/04/bitcoin-back-above-usd81-000-as-hike-odds-fade-zcash-leads-with-15-jump.
