Bitcoin Maintains $82K Level as Investors Assess Warsh’s Latest Remarks

Cryptocurrency markets continued to recover after Bitcoin briefly fell below $80,000, even as investment funds tracking Ether, Solana and Zcash recorded further withdrawals.

Strive Raises SATS Offering to $630 Million

Bitcoin treasury firm Strive (ASST) has expanded its SATS preferred stock offering from 5 million shares to 7 million shares, increasing the size of the planned fundraising.

The shares were offered at $90 each, bringing the company’s expected gross proceeds to $630 million. SATS carries a 15% dividend rate, translating into an effective yield of approximately 16.67% at the offering price.

Strategy Plans Daily STRC Dividend Payments From November 1

Strategy, headed by Michael Saylor, is preparing to change the dividend schedule for its high-yield preferred stock STRC from monthly payments to daily distributions, with the new arrangement proposed to begin on November 1.

The change requires shareholder approval, and voting is currently underway. The results are expected on October 28, meaning the planned start date depends on shareholders supporting the proposal.

STRC has recovered from its sharp decline earlier in the summer but continues to trade slightly below its $100 par value. The shares closed at $99.53 on Thursday, making it more difficult for Strategy to raise additional funds for Bitcoin purchases by issuing new shares at par.

Warsh Leaves October Rate Decision Uncertain as Hike Odds Retreat

Federal Reserve Chair Kevin Warsh declined to indicate whether policymakers would raise interest rates at their October meeting during a fireside discussion at an International Monetary Fund event.

“I don’t prejudge meetings,” Warsh said, explaining that he prefers not to announce decisions before the relevant policy meetings. He described the current period as a new chapter for the Federal Reserve.

Warsh also defended September’s rate increase, arguing that it was necessary to help control inflation.

He identified the artificial intelligence boom as the most significant development shaping the global economy, noting that the surge in AI investment could create additional inflationary pressure. Although AI could eventually boost productivity, he cautioned that the transition would involve challenges.

U.S. Treasury yields moved higher compared with the previous close. The 10-year yield rose 2.9 basis points to 5.12%.

Meanwhile, expectations for an October rate hike fell considerably. Market-implied odds declined to 15%, down from nearly 45% immediately after Wednesday’s stronger-than-expected inflation report.

Binance Executive Says Crypto Sell-Off Is a Sentiment-Driven Correction

Catherine Chen, Binance’s head of institutional, described the latest cryptocurrency decline following the U.S. inflation report as a temporary reaction to market sentiment rather than a sign of deeper structural weakness.

“The CPI-driven selloff is a sentiment shock, not a structural break,” Chen said, referring to the Consumer Price Index, which tracks changes in consumer prices.

She expects inflation to peak around October, with clearer evidence of easing price pressures potentially emerging by March 2027. According to Chen, lower energy costs and moderating inflation could eventually create more favorable conditions for a cryptocurrency market recovery.

“A difficult trading day does not determine the outlook for the next several months,” she added, suggesting that conditions for relief could be developing.

Zcash Climbs 11% Despite Continued ETF Outflows

Bitcoin returned above $82,000 on Friday after briefly slipping below $80,000 during the previous session. Zcash (ZEC) led the broader market recovery, surging 11% to approximately $1,230 despite investors continuing to withdraw funds from its only U.S.-listed spot ETF.

Solana (SOL) and Ether each advanced more than 3%, trading at roughly $106 and $2,450, respectively. Dogecoin and XRP gained between 2% and 3%, while BNB, Hyperliquid’s HYPE and Tron increased by around 1%. Bitcoin itself rose nearly 1%, according to CoinDesk data.

However, the price rebound was not accompanied by stronger investment flows across most cryptocurrency funds. SoSoValue data showed that the U.S. spot Zcash ETF recorded approximately $15 million in withdrawals on Thursday, marking its fifth day of outflows this month.

Ether investment funds lost around $60 million, while Solana funds experienced nearly $10 million in withdrawals, extending their outflow streak to nine consecutive days. XRP investment products also reported a modest net outflow.

Bitcoin ETFs recorded approximately $5 million in net inflows, a relatively small improvement following Wednesday’s $261 million in withdrawals.

Another consecutive day of positive flows into Bitcoin ETFs could provide further evidence that investors are returning to the market and supporting BTC’s recovery from its brief move below $80,000.