Bitcoin Price Capped Near $82,000 Ahead of Federal Reserve Decision
Bitcoin's price may stay below $82,000 until the Federal Reserve's interest-rate decision on September 16, according to analysts. The asset traded between $78,707 and $80,494 over the past 24 hours, with a 0.8% drop to about $79,176.
Jeff Ko, chief analyst at CoinEx, expects even tighter trading before the Fed announces its next interest-rate decision. 'I expect compression into a tight range, capped around $82,000 with support at $78,000, $79,000, and a directional resolution once the Fed is out of the way,' he said.
US-listed spot Bitcoin ETFs absorbed $986.9 million in net inflows during the week ending September 4, taking the three-week total to approximately $3.8 billion. However, Ko noted that this was not enough to confirm a sustained accumulation period.