Bitcoin Stands Firm Amid Macro Shocks

Bitcoin has been trading steadily near $78,000 despite recent macroeconomic shocks, such as Brent crude reaching above $100 and the US 10-year Treasury yield climbing to 4.80% on September 8.

The market is awaiting key events that could influence its direction, including inflation data from the Bureau of Labor Statistics on September 11 and the Federal Reserve's meeting on September 15-16.

Glassnode's True Market Mean sits near $76,600, while corporate treasuries break even around $80,500. A sustained move above $86,000 would indicate that Bitcoin has absorbed a large block of overhead supply and pushed major institutional holdings back toward profit.