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Bitcoin Soars Past $81k on Cooling Rate Hike Fears

Guavy AI Editorial Team
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BTC
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Bitcoin surged past $81k on Friday as fears of an imminent US interest rate hike cooled down. This rally was partly driven by comments from Federal Reserve Governor Christopher Waller, who signaled that he leans towards keeping interest rates steady when the Fed meets later this month.

The reduction in bets on a September interest rate hike also contributed to Bitcoin's rise, with CME Fedwatch indicating a 50.4% chance down from over 60% earlier this week.

The prospect of steady rates bodes well for Bitcoin, given its sensitivity to shifts in yields. The crypto's late-August rally was cut short by a brief spike in yields.

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