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Bitcoin rose on Wednesday, attracting bargain hunters after steep losses in recent weeks, while a positive overnight session on Wall Street helped improve risk sentiment across digital asset markets.
The world’s largest cryptocurrency climbed 3.2% to $65,102.7 by 01:24 ET (06:24 GMT), after touching a session high of $66,279.4. Earlier in the week, Bitcoin had slipped below the $63,000 level, underscoring the volatility that has gripped the market.
Broader cryptocurrency prices also advanced, as recent selling pressure appeared to ease. Still, Bitcoin remains down nearly 50% from its record highs reached in October, and the path toward a sustained recovery remains uncertain amid subdued retail and institutional demand.
Bitcoin Tracks Wall Street Rebound as AI Fears Ease
Bitcoin’s rebound largely mirrored gains on Wall Street, where technology stocks recovered as immediate fears over artificial intelligence–driven disruption in the software sector cooled. Crypto markets often move in tandem with U.S. tech shares, although equities have significantly outperformed digital assets in recent months.
Tech stocks also found support ahead of closely watched earnings from AI bellwether Nvidia (NASDAQ: NVDA), due after the market close on Wednesday. The results are expected to influence sentiment across the technology sector and could offer indirect cues for cryptocurrency markets.
Trump Reaffirms Tariff Agenda, Crypto Unmentioned
Markets also digested fresh signals on U.S. trade policy after President Donald Trump reiterated his commitment to tariffs during his State of the Union address on Tuesday night.
Trump criticized the Supreme Court’s decision to strike down his sweeping reciprocal tariffs but insisted he would continue pursuing his trade agenda under a new legal framework. He claimed congressional approval was not required, though the exact legal basis for this assertion remains unclear.
Under the Section 232 framework used for his latest tariffs, the president would still need congressional approval after 150 days, as well as permission to expand the scope of the levies.
Despite covering a wide range of topics in the longest State of the Union speech in U.S. history, Trump made no reference to cryptocurrencies or digital asset regulation.
Altcoins Rise as Dip Buyers Step In
Elsewhere in the crypto market, altcoins benefited from bargain buying following sharp declines in recent weeks. Ether rose nearly 4% to $1,891.16, while XRP gained 2.7%.
Solana outperformed with a 6.8% jump, Cardano added 3.4%, and BNB climbed 1.4%. Meme tokens also advanced, with Dogecoin up 1.5% and the $TRUMP token rising 4.7%.
Overall, while Wednesday’s rebound offered some relief, crypto markets remain fragile, with investors cautious about declaring an end to the broader downtrend amid ongoing macroeconomic and policy uncertainty.
