Bitcoin Breaks Back Above $80,000 on Rate Hike Expectation Shift
Bitcoin (BTC) has reclaimed its place above $80,000 after Federal Reserve Governor Christopher Waller tempered expectations of a September rate hike. This move has pushed the price to $81,749 on Thursday, marking another multi-month high.
The flagship cryptocurrency had lost momentum earlier but is now trading around $80,826, up almost 4% in the past 24 hours. Buyers are holding above $80,000, which could be a key level of support for sustaining the latest breakout.
Corporate demand has also provided additional support to Bitcoin's latest resurgence, with Strive CEO Matt Cole revealing that his company could purchase over 20,000 BTC by the end of the year. This renewed institutional confidence in the asset suggests companies are buying and holding BTC on their books as a reserve asset again.