Bitcoin bounced back strongly on Thursday. It climbed over ninety one thousand dollars after falling to around eighty thousand last week. That drop was its weakest level since April. By late morning, Bitcoin was trading a little above ninety one and a half thousand, up just over five percent.

The main driver behind this rebound is growing confidence that the U.S. Federal Reserve may cut interest rates soon. Markets now see about an eighty five percent chance of a small quarter point cut. A week ago the odds were less than half that. Lower rates usually help assets like Bitcoin because they increase liquidity and push investors toward riskier, higher return options.

Even with the jump, some caution is still in the air. Inflation in the U.S. remains sticky. Economic data has not been consistently strong. This has raised doubts about how quickly or how boldly the Fed will act. Some traders are unsure whether this rise in Bitcoin is the start of a new trend or just a short term recovery.

Those who are optimistic point to another possible boost. Kevin Hassett is being talked about as a potential next Fed chair. Many investors see him as more supportive of loose monetary policy. That possibility is adding to the positive sentiment around Bitcoin and other risk assets.

In other crypto news, Naver Financial in South Korea has agreed to buy Dunamu, the company behind the major crypto exchange Upbit. The deal is worth about ten billion dollars and will happen through a stock swap. This will make Dunamu a full subsidiary of Naver Financial. The companies say the deal will join Naver’s large digital payments network with Upbit’s strong position in the local crypto market. It is one of the biggest digital finance deals in the country and could help Naver expand into blockchain based financial services once regulators approve it.

Altcoins also moved higher on Thursday. Ethereum rose almost four percent to just over three thousand dollars. XRP was up slightly. Solana and Cardano both climbed more than three percent. Among meme coins, Dogecoin gained nearly two percent, while Trump token saw a small uptick.