Bitcoin Rebounds to the Mid-$80,000s as Brazil’s Ibovespa Hits a Record and Commodities Swing

Overview

• After sliding below $90,000 to an intraday low near $84,000, bitcoin recovered to around $87,500, with selling tied to Strategy’s potential reserve sales, renewed Tether solvency worries and the lowest levels since April; Strategy holds about 649,870 BTC at an average near $74,430.
• The People’s Bank of China said it will intensify its clampdown on crypto trading and reiterated that digital assets lack legal status, further souring sentiment in the asset class.
• Signals from the Bank of Japan that a rate hike is under consideration fed a risk-off move and tighter global funding conditions, even as markets lean toward a U.S. Federal Reserve rate cut next week and a softer dollar.
• Oil rose more than 1% on Monday on OPEC+’s decision to keep quotas and geopolitical risks tied to Ukrainian strikes and U.S.–Venezuela tensions, then fell over 1% Tuesday on profit-taking, with modest gains early Wednesday as peace talks reports offered no clear breakthrough.
• Brazil’s Ibovespa closed at a record 161,092, supported by a weaker dollar, growing bets on Fed easing and local factors including fiscal measures, even as broader markets showed mixed performance.