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Bitcoin edges toward August close as rate-hike bets return
Cointelegraph says markets are once again pricing a Federal Reserve rate hike for September, a key driver of Bitcoin’s near-term direction.
Bitcoin is trading near the August monthly close as investors weigh renewed expectations for Federal Reserve interest-rate action, according to Cointelegraph.
The outlet said markets are pricing in a potential September rate hike, which has helped steer crypto sentiment during the week.
Cointelegraph added that Bitcoin has been approaching the August monthly close while testing key resistance levels tied to the move in rate expectations.
Latest closeBitcoin $77,877.93 ▲0.1%
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