Bitcoin climbed almost 2% to just under $81,000 during Asian trading on Wednesday, recovering from its weekend retreat toward $79,000 as investors awaited the Federal Reserve’s latest interest rate decision. Major altcoins outperformed BTC, while technology stocks continued their upward trend.

Zcash (ZEC) led gains among large-cap cryptocurrencies, jumping 8% to roughly $1,320 and regaining the $1,300 level after Monday’s sell-off. Hyperliquid’s HYPE token rose nearly 5% to about $81. XRP and Dogecoin (DOGE) advanced around 3% each, while Ethereum gained 2% to trade slightly above $2,350. Solana (SOL) added approximately 2% to $102, and BNB increased 1%. TRON (TRX) lagged behind the broader market, rising less than 1%, according to CoinDesk data.

The rebound followed a recent assessment from Galaxy, which said current conditions could offer an opportunity for investors to accumulate Bitcoin.

“We think the bear market ended in June and that bitcoin is in the accumulation phase that has preceded every prior advance,” Alex Thorn, Galaxy’s head of firmwide research, wrote in a note.

Thorn suggested that Bitcoin reached its low in June, when prices briefly dropped below $58,000. He cited BTC’s move above its 50-week moving average, which measures the average of its weekly closing prices over the past 50 weeks and is often used to gauge the market’s longer-term direction.

He also pointed to softer selling pressure and rising U.S. government debt as reasons for his positive outlook. However, Bitcoin’s difficulty maintaining levels above $80,000 highlights the uncertainty surrounding the market’s recovery.

Attention has now shifted to the Federal Reserve’s policy announcement and Chair Kevin Warsh’s press conference. Traders will be looking for clues about whether policymakers might raise interest rates again in December.

An increase in rates could weigh on cryptocurrencies by making borrowing more expensive and reducing investors’ appetite for higher-risk assets. Tighter monetary conditions often prompt market participants to reconsider their exposure to digital assets.