Bitcoin climbed to about $77,200 early Wednesday, looking to snap a five-day losing streak after the Senate voted to end President Donald Trump's Iran war powers that had injected significant uncertainty into global markets.

Market Context

The so-called Upper House voted 50-47 to pass the bill, after seven failed attempts since the conflict began in late February. Bitcoin, the leading cryptocurrency by market value, rose 0.5% from midnight UTC levels. XRP (XRP), ether (ETH), and solana (SOL) gained between 0.4% and 0.8%, according to CoinDesk data.

Traditional markets also offered risk-on cues, with WTI crude futures falling 0.75% to $103.42 per barrel. Yields on the 10- and two-year Treasury notes declined by more than two basis points each, while Nasdaq futures rose 0.33%.

Analysis

The crypto rebound followed five straight days of losses that saw BTC pull back to nearly $76,000 from $82,000, as U.S. Treasury yields hardened and spot ETFs registered massive outflows during the geopolitical turmoil.

Adding to positive sentiment, President Trump on Tuesday directed the Federal Reserve to review how depository institutions may be granted access to payment services — a critical development for an industry that has long struggled with securing stable banking relationships and integrating into traditional finance.

"Wider access to payment rails and depository services can improve institutional confidence, liquidity, settlement efficiency, and long-term adoption," Naeem Aslam, CIO at Zaye Capital Markets, said in an email.

Key Numbers

- Bitcoin: $77,200 (up 0.5% from midnight UTC)

- XRP: up 0.4%

- Ether: up approximately 0.5%

- Solana: up 0.8%

- WTI crude: $103.42 per barrel (down 0.75%)

- Five-day BTC decline: from $82,000 to nearly $76,000

What to Watch

The April FOMC meeting minutes are due Wednesday at 18:00 UTC and will be closely parsed for how persistently above-target inflation is being weighted against growth risks, according to Dessislava Ianeva, analyst at Nexo. Traders will also monitor continued Treasury yield movements and any further developments on banking access for crypto firms following Trump's directive.