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Bitcoin holds above $78,000 as Polymarket leans to a Sept hike

Polymarket has priced a quarter-point Fed increase for Sept. 15-16 at 55.5%, and total crypto market value is down 2.6% over 24 hours to $2.65 trillion.

Reported · Written up by our desk · Market Structure

Prediction market traders are leaning toward a Federal Reserve rate increase for the Sept. 15-16 meeting while bitcoin holds above $78,000 after Chair Kevin Warsh’s Jackson Hole comments, according to The Defiant.

Bitcoin was last quoted at $78,317, down 0.65% over 24 hours, after trading between $77,162 and $79,347, with ether at $2,464, down 0.61% on the day.

Despite bitcoin’s relative steadiness, market breadth was weaker, with 88 of the 125 largest non-stablecoin tokens down on the day and total crypto market value falling faster than bitcoin, down 2.6% over 24 hours to $2.65 trillion.

Polymarket priced a quarter-point increase at 55.5% and a hold at 43.5%, with the event market volume rising from $56.2 million on Friday, after Warsh said recent inflation readings had not convinced him that underlying trends were improving.

Latest closeBitcoin $78,863.32 ▲1.5%

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