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Crypto

Bitcoin Price Retreats After Briefly Surpassing $82,000

Guavy AI Editorial Team
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BTC
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Bitcoin's price dipped to around $81,150 after briefly surpassing $82,000 on September 4 due to profit-taking following a short squeeze. This squeeze was fueled by softer Federal Reserve rate hike expectations and strong inflows into US spot Bitcoin ETFs totaling $730.8 million.

The rally was supported by weaker US employment data and comments from Fed officials suggesting a pause in rate hikes, which lowered Treasury yields and the dollar.

Despite being above key moving averages, Bitcoin faces resistance near $82,800 with potential volatility due to clustered liquidation levels.

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