Bitcoin Price Eyes Best Q3 Since 2017 as Hawkish Rate Bets Persist

The Bitcoin price has sealed its highest weekly close since late January at $84,450 but dropped to one-week lows of $82,557 after liquidity shifts on exchange order books.

Markets are currently pricing in a 70% chance of a 0.25% Fed interest-rate hike in October ahead of this week's August PCE inflation and September nonfarm payrolls data.

Analysts say Bitcoin must defend $82,500 to repeat its 2022 bear-market recovery pattern, which would confirm the latest inverse head-and-shoulders reversal and build a 'reaccumulation range' above.