Bitcoin Price Range Set by Wintermute Until FOMC Meeting

Wintermute, a prominent market maker in the cryptocurrency market, has shared its expectations for Bitcoin's price movement until the Federal Reserve's FOMC meeting on September 15-16. According to Wintermute, the price of Bitcoin is expected to stay within the range of $75,000 and $82,000 during this period.

This expectation comes after Bitcoin surged above $81,000 last week but retreated to around $78,000 following Federal Reserve Chairman Kevin Warsh's hawkish speech in Jackson Hole. The company believes that economic data to be released in the first two weeks of September could lead to significant changes in interest rate expectations before the FOMC meeting.

The US non-farm payrolls data to be released on September 4th will be closely watched, particularly in terms of interest rate expectations and the direction of Bitcoin. Wintermute noted that a weekly close below $72,000 for Bitcoin could change the current outlook, as there is no clear support zone below this level.