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Bitcoin holds above $78,000 as Fed-hike bets lift yields
Bitcoin traded roughly between $77,200 and $79,200 over 24 hours, while Strategy resumed buying with $370 million in purchases last week.
Bitcoin was steady above $78,400 in Asian morning trading, supported by renewed spot demand even as risk assets slipped. According to CoinDesk Data, bitcoin’s price action over the past day was relatively tight, swinging between about $77,200 and $79,200.
August marked a strong month for bitcoin, rising 24% for its best performance since November 2024, as Strategy returned as a buyer with $370 million of bitcoin purchases last week after about two months without buying. CoinDesk also pointed to spot exchange traded funds drawing fresh demand, citing them as the strongest week of inflows since October 2025.
The broader crypto complex was weaker as higher oil prices pushed up Treasury yields, lifting expectations for a Federal Reserve rate increase in September. CoinDesk Data said the U.S. 10 year yield rose to 4.78%, with traders pricing about 64% odds of a hike at the Sept. 16 meeting.
Traders are also focused on Friday’s August jobs report, with a stronger reading seen likely to lift yields further and test bitcoin’s overnight low near $77,200. CoinDesk reported HYPE was the only large cap gainer, up about 4% to near $84, while ether and solana fell about 1% each and tron and dogecoin dropped roughly 2% and 8%, respectively.
Latest closeBitcoin $77,874.48 ▼0.9%|Solana $101.97 ▼1.0%|Dogecoin $0.082 ▼0.5%