Bitcoin Slips to $77,000 Amid Rate Hike Fears, but Traders Still Favor $84,000

Bitcoin's price slipped to $77,000 on concerns over a potential Federal Reserve interest rate hike. However, prediction market Myriad shows that traders still favor further gains, with 77.8% of bets favoring Bitcoin reaching $84,000 first.

U.S. spot Bitcoin exchange-traded funds (ETFs) have seen net inflows for nine straight trading days, with cumulative August inflows topping $3 billion - the largest monthly total this year.

Technical analysis suggests that Bitcoin needs to reclaim the $81,000 to $82,500 range to attempt a breakout above $84,000. A key support zone is seen at $73,670 to $75,157.