Crypto
Bitcoin Stabilizes Near $80K Amid Inflation Fears and Rate Hike Expectations
Bitcoin is holding steady around $79,985, having gained 2.5% for the week and recovering 37% from its June low.
The price surged to $82,240 before dropping after a strong US jobs report raised expectations of Fed rate hikes, which could pressure non-yielding assets like Bitcoin.
Institutional demand via spot Bitcoin ETFs remains robust, absorbing market shocks and supporting the price.
Key upcoming events include the US CPI report on September 11 and the FOMC decision, which will likely determine Bitcoin's next direction within its current trading range between $76,000 and $82,200.