Bitcoin traded near $84,500 on Wednesday, up 2.5% in 24 hours, as the crypto market rebounded from a mid-October dip below $80,000. Ethereum rose 2.5% to $2,504, Solana gained 2.2% to $108.18, and BNB increased 2% to $749. XRP led the broader market with a 4.1% surge to $1.37, while Zcash soared 11.2% to $1,332. The total global crypto market capitalization rose 2.2% to $2.9 trillion.

On the macro front, Brent crude oil has fluctuated between $97 and $112 this month, trading near $108 on Wednesday, with ongoing conflict with Iran fueling supply concerns. The US September Consumer Price Index (CPI) rose 3.7% year-over-year, above expectations of 3.6%. The Federal Reserve's benchmark interest rate remained between 3.75% and 4% after a September hike, with the CME FedWatch tool showing an approximately 80% probability of rates remaining unchanged at the October 28 meeting, and a widespread market expectation of another rate hike on December 9.