Bitcoin (COIN:BTCUSD) vaulted past the $93,000 threshold on Wednesday, staging a strong comeback after Monday’s sharp plunge toward $84,000. The recovery was supported by renewed optimism around U.S. regulatory developments as well as growing conviction that the Federal Reserve could lower interest rates in the coming days.

By 02:19 ET (07:19 GMT), the benchmark cryptocurrency was up 7.2% at $93,101.6.

This rebound follows a volatile start to the week, during which Bitcoin briefly slipped under $85,000 — extending a retreat of roughly 33% from its early-October peak above $126,000.

Support builds on SEC comments, Vanguard’s policy shift

Market participants attributed much of Bitcoin’s strength to comments from U.S. Securities and Exchange Commission Chair Paul Atkins, who reiterated that the agency intends to introduce a revamped regulatory framework, including a proposed “innovation exemption,” aimed at better accommodating digital-asset businesses.

The exemption is designed to clarify rules around the issuance, custody, and trading of crypto assets as the SEC continues updating its oversight approach.

Momentum was further boosted by a policy reversal at Vanguard, the world’s second-largest asset manager. The firm said it will begin permitting trades of cryptocurrency-themed ETFs and mutual funds on its brokerage platform this week — a notable change that expands regulated access for millions of investors and reflects broader institutional acceptance of crypto-linked products.

Traders also weighed increasing odds of a Federal Reserve rate cut next week, a prospect that tends to enhance the appeal of dollar-denominated risk assets such as Bitcoin.

Still, given the abrupt price swings seen in recent sessions, many market watchers warned that the latest bounce may not be durable.

Crypto market today: broad altcoin rally with Ether up 10%

Altcoins advanced sharply in tandem with Bitcoin’s rise.

Ethereum, the second-largest cryptocurrency, surged 10% to $3,062.92.

XRP, the third-largest token by market cap, climbed 9.3% to $2.20.

Elsewhere, Solana jumped 12%, Cardano rallied 14%, and Polygon strengthened 7%.

Among meme-driven tokens, Dogecoin added 11% and $TRUMP rose 5.7%.

Bitcoin price

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