Bitcoin Price Surge Raises $100,000 Hopes Amid Macro Headwinds
Bitcoin's price surge from its July low has put it within reach of the coveted $100,000 milestone. Since hitting an intraday low of about $57,748 on July 1, Bitcoin (BTC) has climbed above $80,000 before pulling back to roughly $79,710 last Friday, a gain of about 38%. This move is significant because it has put $100,000 back within striking distance.
The recovery has been broad, with Ethereum (ETH) climbing about 56% to approximately $2,460 over the same period. Bitcoin gained about 25% in August alone, but remains well below its roughly $126,000 October 2025 high, meaning this move is still a recovery rather than a new record-setting cycle.
The strong August jobs report pushed traders toward higher expectations for a September Federal Reserve rate hike, which pulled Bitcoin back below $80,000. Elevated bond yields, inflation pressure, geopolitical risk, and potentially higher interest rates could limit appetite for speculative assets like Bitcoin.