Bitcoin Sprints Past $82,000 on Waller's Dovish Comments
Crypto markets staged a significant rally on September 3-4, with Bitcoin climbing to a four-month high near $82,200.
The surge was largely driven by comments from Federal Reserve Governor Christopher Waller, who signaled that he favors holding interest rates steady at the upcoming FOMC meeting on September 15-16.
This development led traders across asset classes to reassess their bets on further rate hikes. Before Waller's remarks, futures markets had priced a September rate hike with around 63-70% probability, but this dropped to around 50% afterward.
Ethereum and XRP also posted gains of 4-5% and 6%, respectively, while Zcash surged between 16-18%. US spot Bitcoin ETFs saw net inflows of $731 million on the day, with BlackRock's IBIT absorbing $454 million.