Major tokens snapped a five-day losing streak on Wednesday morning, driven by a Senate vote to restrict President Trump's war powers in Iran. The upper chamber passed the bill 50-47 after seven previously failed attempts since the conflict escalated in late February.
Bitcoin climbed to $77,200, up 0.5% since midnight UTC, after hitting a weekly low near $76,000. XRP, Ether, and Solana rose between 0.4% and 0.8%, according to CoinDesk data. The five-day selloff had pushed BTC from $82,000 amid hardening U.S. Treasury yields and heavy spot ETF outflows.
Risk-on cues from traditional markets
WTI crude fell 0.75% to $103.42. Yields on the 10- and two-year Treasury notes dropped over two basis points each, while Nasdaq futures added 0.33%.
Trump orders Fed review of bank access for crypto
On Tuesday, President Trump directed the Federal Reserve to review how depository institutions can gain access to payment services. The move addresses a long-standing pain point for the crypto industry—securing stable banking relationships. Naeem Aslam, CIO at Zaye Capital Markets, called it a critical development: “Access to payment rails and depository services can improve institutional confidence, liquidity, settlement efficiency, and long-term adoption.”
Next catalyst: April FOMC minutes
Traders now eye the release of the April Fed meeting minutes at 18:00 UTC. Nexo analyst Dessislava Ianeva noted the minutes will be parsed for how persistently above-target inflation is being weighed against growth risks—a key variable for the next directional move.