Bitcoin and other major crypto assets recovered from early losses Tuesday as easing oil prices helped improve market sentiment.
Bitcoin rose back to $78,800 after falling below $78,000 earlier in the session, while XRP gained 3.6%, Ether advanced 1.2% and Solana added 1%.
The recovery came as US stocks pared declines, with the Nasdaq down only 0.1% by midday. Brent crude pulled back to about $97.5 after briefly approaching $100, although geopolitical tensions remained elevated following fresh hostilities involving the US and Iran and attacks by Tehran-backed Houthis on Saudi energy infrastructure.
Markets remain focused on inflation and monetary policy after stronger-than-expected August jobs data increased the likelihood of a Fed rate hike.
Traders currently price a 58.4% chance of a hike this month, while PPI and CPI reports due Thursday and Friday are expected to influence the central bank’s decision.
