Bitcoin Bounces Back to $77,462 Amid Rising Tensions

Bitcoin rebounded by 0.26% to $77,462 on September 14, recovering from early losses despite hotter US inflation data and rising Middle East tensions.

The price recovery is seen as a relief rally rather than a sign of a broader bullish breakout, according to crypto analyst Riya Sehgal at Delta Exchange.

Sehgal estimates that the $78,000 level remains the immediate test for Bitcoin, with a sustained move above this level bringing $78,800-$79,000 into focus. Failure to hold the $77,300-$77,500 area could expose recent lows again.

The upcoming Fed rate decision next week will be crucial in determining the direction of the market, with interest-rate markets assigning an 86% probability to a 25-basis-point increase.