Bitcoin Holds Below $80,000 as Fed Uncertainty Continues

Bitcoin's price has remained below $80,000 despite repeated attempts to break through this level. The cryptocurrency currently trades near $77,600 on Monday, having gained 0.5% over the past 24 hours.

The failure to reclaim the $80,000 level comes after Bitcoin reached a high of around $82,000 earlier in September before sellers pushed the price lower.

QCP Capital has identified $80,000 to $82,000 as a local resistance zone, with support around $77,000 to $78,000. The Fed's upcoming decision is seen as a contributing factor to Bitcoin's volatility, with expectations for interest rate hikes increasing following stronger-than-expected US employment figures.

CoinShares research has linked recent digital asset fund flows with changes in US interest rate expectations, suggesting that monetary policy uncertainty is limiting Bitcoin's price action around $80,000.