Home›Crypto›Market Structure›Bitcoin holds above $80,000 as CPI, PPI and Sept. 16 F…

Bitcoin holds above $80,000 as CPI, PPI and Sept. 16 Fed loom

CME FedWatch shows 58.4% odds for a 0.25% September rate hike, a setup that could shape whether BTC keeps $80,000 as support.

Reported · Written up by our desk · Market Structure

Bitcoin posted its first weekly close above $80,000 since early May, but traders are watching a busy US macro calendar that could influence crypto and broader risk assets, according to Cointelegraph.

Cointelegraph said August CPI and PPI data are due Thursday and Friday, respectively, with CPI already reported at 0.1% month on month and 3.4% year on year last month.

The outlet also pointed to Fed comments by Federal Reserve chair Kevin Warsh at the Jackson Hole economic symposium, where he said inflation data alone did not justify reassessing financial policy, and noted that underlying trends had improved only modestly.

Cointelegraph added that markets have priced in a higher chance of Fed action for Sept. 16, with CME Group FedWatch showing consensus for a 0.25% hike at 58.4%, after stronger-than-expected August nonfarm payrolls that included upward revisions.

Latest closeBitcoin $79,153.04 ▼1.5%

More like this

Sources