Bitcoin edged higher after a sharp selloff, with investors treading carefully ahead of a long-delayed U.S. labor report and fresh clues on the Federal Reserve’s policy path.

• Bitcoin (spot): $90,953 (+1.4%)
• Tuesday low: < $90,000, weakest since April; rebound toward $94,000 faded on fragile risk sentiment

Fed uncertainty keeps crypto on the back foot

A string of hawkish remarks from Fed officials—citing uneven disinflation and limited scope for further easing this year—has cooled expectations for a December rate cut, pressuring risk assets including crypto. Markets now look to Thursday’s September nonfarm payrolls (delayed by last month’s government shutdown) for direction.
Adding to policy jitters, President Donald Trump said he had chosen a preferred nominee for the next Fed chair and could announce the pick soon, stoking questions around central-bank continuity.

Deal flow: Kraken valued at $20B

Crypto exchange Kraken raised $800 million across two tranches, valuing the firm at $20 billion—a 33% jump in under two months. Backers included Jane Street, HSG, Oppenheimer Alternative Investment Management, Tribe Capital, and Citadel Securities. Kraken said proceeds will fund expansion into futures, equities, tokenized assets, and payments, and support on-chain regulated products.

Altcoins mixed

• Ether: $3,027 (+1.0%)
• XRP: $2.13 (flat)
• Solana: +1.5% | Polygon: +0.8% | Cardano: flat
• Meme tokens: Dogecoin, $TRUMP slightly higher

Bottom line

With Fed odds in flux and the jobs print imminent, crypto remains headline- and data-driven. A softer labor read could spark a relief bounce; a firm print may keep Bitcoin pinned near recent lows.