Bitcoin remained calm during Wednesday’s trading, stabilizing near $87.5K after a sharp decline last week that pushed it to its lowest level in seven months. Despite attempts to rebound from the $80K zone, price action remains limited, reflecting traders’ caution and a weaker risk appetite following recent volatility.
Market bets on a U.S. interest rate cut in December have increased after weaker than expected economic data, reinforcing the view that the Federal Reserve may move to ease borrowing costs. At the same time, speculation over the possible appointment of Kevin Hassett a close adviser to Donald Trump as the new Fed chair has injected momentum into the market; Hassett is seen as supportive of aggressive rate cuts, a stance typically favorable for high risk assets such as cryptocurrencies.
Despite these signals, investor sentiment in the crypto market remains cautious. The recent sharp sell-off shook confidence, prompting many traders to wait for clearer economic and political indications before building sizable positions. This hesitancy is evident in the trading volumes and the price remaining confined within tight ranges.
On the regulatory front, the U.S. Commodity Futures Trading Commission (CFTC) announced the opening of nominations for a new “CEO Innovation Council,” designed to provide industry led advisory guidance on digital asset regulation, stablecoins, tokenized collateral, and modern market structure. The move marks a proactive attempt to strengthen oversight as the digital asset industry expands.
As for altcoins, performance remained muted; Ethereum posted a slight rise toward $2,935, while XRP fell around 2% to approximately $2.19. Solana recorded a modest upward move, while Cardano and Polygon traded sideways. Meme tokens such as Dogecoin and TRUMP saw little to no change, signaling the absence of speculative momentum at this stage.
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