Bitcoin reclaims $77,500 as fading Fed hike odds and record-low dollar hedges lift crypto across the board.

Yesterday's selloff — triggered by geopolitical tension linked to Iran — reversed sharply today, and the driver was macro rather than anything crypto-specific. Two data points did most of the work. First, global fund managers cut their dollar hedges to the lowest level since 2015, meaning large institutional players are less defensively positioned against a strong dollar. A weaker dollar environment generally benefits risk assets, including crypto. Second, the probability of a Federal Reserve rate hike at the next meeting slid to 62% — still elevated, but down from recent highs — reducing one of the main headwinds that had been weighing on Bitcoin and altcoins. Bitcoin responded by climbing 1.5% back above $77,600, reclaiming the level it lost in yesterday's geopolitical-driven drop. XRP outperformed among the top-10 assets, gaining 3.5%, while BNB added 3.3% and Solana rose 2.2%. The biggest beneficiary was Sui, up 7.74% — a pattern consistent with how higher-beta altcoins (assets that tend to move more sharply than Bitcoin in either direction) respond when macro conditions shift from headwind to tailwind. Zcash also stood out with a 4.2% gain, though no specific catalyst was identified beyond the broader risk-on tone. The Fear & Greed index sits at 65, in Greed territory, reflecting the recovered sentiment.

• –The CFTC asked a federal judge to dismiss CME Group's lawsuit challenging the regulator's approval of crypto perpetual futures — a legal fight that could shape how leveraged crypto derivatives are structured and offered in the United States.
• –Australia is intensifying enforcement actions against crypto businesses ahead of a major compliance deadline, adding to a pattern of tightening regulatory requirements across Asia-Pacific markets.
• –Arbitrum's DAO reported $6.2 million in first-half income, with Robinhood Chain contributing a new revenue stream — a sign that Ethereum's layer-2 ecosystem is developing more durable business models beyond transaction fees.