Bitcoin Holds Steady at $79K Amid Rate Hike Uncertainty

Bitcoin's price continues to hover around $79,600 as markets await the Federal Reserve's decision on September 16. The probability of a rate hike is about 50% after cautious Fed signals. This uncertainty has made interest-bearing assets more attractive, reducing demand for non-yielding assets like Bitcoin.

The European Central Bank may also raise rates in mid-September due to rising energy prices. Strong inflows into Bitcoin ETFs are supporting the price amid macroeconomic uncertainties. Despite volatility and being 37% below its 2025 peak, Bitcoin's price remains stable.

Interestingly, altcoin futures open interest surpassed Bitcoin's for the first time since December 2024, driven by strong gains in mid-cap altcoins like Zcash. The European Central Bank's potential rate hike has created uncertainty, making it challenging to predict Bitcoin's future movement.