Solana (SOL) Leads Crypto Market Recovery, Bitcoin (BTC) Reclaims $84,000

Cryptocurrency markets saw a modest recovery during Thursday's Asian trading hours, reversing part of the losses from the previous day's sell-off.

Cryptocurrency markets showed a modest recovery during Thursday’s Asian trading hours, recovering some of the losses from the previous day’s sell-off.

Solana’s SOL led the gains with a 6% jump, while Bitcoin climbed 2% to approach $84,500. The rally came in the wake of remarks by Federal Reserve Chair Jerome Powell, who signaled a more cautious approach to interest rate cuts amid rising economic uncertainty, according to CoinDesk.

Key takeaways

- Bitcoin rose 2% to near $84,500.

- Solana gained 6%, leading major altcoins.

- ETH, XRP, DOGE, BNB up 1–3%.

- Stellar’s lumen (XLM) and Chainlink’s LINK token also rose more than 3%.

- Hyperliquid’s HYPE surges 8.5%, outpacing midcap peers.

- Celestia’s TIA token shed 4% as investor concerns grow over long token unlock schedules.

- Midcap tokens saw mixed trade, with gains in ICP, YGG, and AGIX, and losses in MANA, ENJ, and SAND.

What happened

Cryptocurrency markets rallied solidly in the Asian morning session on Thursday after a sell-off the previous evening as Federal Reserve Chairman Jerome Powell dashed hopes of an imminent rate cut.

Solana is the leader of the gains. SOL is currently changing hands around $134.37, showing a 6.7% gain in the past 24 hours.

Ethereum (ETH), XRP, Dogecoin (DOGE), and BNB all posted gains ranging from 1% to 3%, indicating broad-based strength among large-cap digital assets.

Hyperliquid’s HYPE also outpaced its midcap peers with an 8.5% rise, despite no immediate fundamental catalyst being identified for the stellar move.

On the downside, Celestia’s TIA token shed 4% as investor concerns grew over the long token unlock schedules, which is expected to exert pressure on the token price in the mid-term. This followed a steep decline in Mantra DAO’s token earlier in the week, which is adding to the pressure across the segment.

Despite the rebound, volatility remains elevated. XRP and Ethereum in particular showed signs of price stabilization after sharp recent swings, suggesting a tentative return of investor confidence in key assets.

Further outlook

The crypto market’s current trajectory will depend on further signals from the Fed on its interest rate policy.

With inflation risks and geopolitical tensions still impacting global markets, investors are likely to remain sensitive to macroeconomic cues.

Solana’s continued momentum will rest on whether bullish bets can outpace cautious outflows in the coming weeks.