Bitcoin Price Prediction: Bulls Defy Selloff as Rate-Hike Odds Soar
The Bitcoin price prediction for September 6 remains bullish above $77,500, despite a sharp jobs-data selloff on Friday that saw BTC drop by $1,600 in just three minutes.
The decline occurred after stronger-than-expected US nonfarm payrolls surged 162,000 in August, more than triple the forecasted 56,000. This boosted rate-hike odds to around 60% ahead of the September 16 Fed meeting.
BTC currently trades near $79,697, up 2.62% this week, and is testing a key level at $80,182.71 on its 2-hour chart. A reclaim of this level would confirm the short-term trend remains up.
A bullish case suggests BTC could extend towards $82,283 and then $84,000 if it reclaims $80,182 and holds above $77,500. On the other hand, losing $75,800 risks a slide toward the weekly Bull Market Support Band near $70,136.