Bitcoin advanced toward $84,000 on Wednesday as markets reacted to comments from New York Fed President John Williams, who said he did not anticipate the need for further rate hikes in 2027. His remarks weakened the U.S. dollar and boosted Asian equities ahead of Thursday’s U.S. inflation release.

Bitcoin rose 1.5% to just under $83,900 during the Asian morning session. ZEC led the cryptocurrency market, jumping nearly 7% to around $1,270. Solana (SOL) and Dogecoin (DOGE) gained 2.5% each, while Ether (ETH) climbed 2% to approximately $2,520. XRP, BNB and HYPE advanced between 1% and 2%, while TRON (TRX) recorded a smaller increase of less than 1%, according to CoinDesk data.

Williams indicated that one additional rate hike could still be justified this year. Even so, his comments helped the S&P 500 recover part of its losses from Tuesday. Futures tied to the index rose 0.2%, with the benchmark remaining near its record high from the previous week.

Technology stocks across Asia also rebounded, led by semiconductor manufacturers Samsung Electronics and SK Hynix. Both companies ended a five-session decline that had triggered liquidations of leveraged chip-stock positions on cryptocurrency exchanges earlier this week. MSCI’s Asia-Pacific equity index increased 0.7%, recovering after two consecutive losing sessions pushed it to its lowest close since August.

Attention is now shifting to earnings from major semiconductor firms. ASML, a key supplier of chipmaking equipment, is set to report on Wednesday, while Taiwan Semiconductor Manufacturing Co. will release its results on Thursday.

Oil prices continued to rise as renewed violence in the Middle East increased uncertainty about the resumption of energy shipments through the Persian Gulf. Brent crude gained 0.7% to approximately $106 per barrel, while U.S. crude extended its rally for a fifth straight session.

The upcoming U.S. inflation report on Thursday could shape expectations for the Federal Reserve’s policy direction. If inflation data is weak enough to ease concerns about another rate hike, Bitcoin may have an opportunity to climb back toward $85,000.