Crypto

Bitcoin Consolidates Near $79,500 Amid Elevated Fed Hike Bets

Guavy AI Editorial Team Published September 7, 2026

Instruments

BTC

Bitcoin (BTC) is trading near $79,500 after a strong week that saw it gain over 3.4%. The price has been consolidating around this level as investors await further developments in the market.

The continued support for BTC can be attributed to strong institutional demand, with US-listed spot Bitcoin Exchange Traded Funds (ETFs) recording nearly $1 billion in net inflows for the third straight week. However, rising geopolitical tensions between the US and Iran are keeping Federal Reserve tightening expectations elevated, which could weigh on BTC.

Pi Network (PI) is struggling to advance its 5% gains from last week as it hovers around a key resistance level. The Pi Core Team released new functionalities for developers alongside new documentation, but the technical outlook shows a downside risk as momentum wanes.

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