Bitcoin Stuck in Tight Range Ahead of Fed Decision

Bitcoin's price has been trading in a tight range between $78,707 and $80,494 over the past day, settling at around $79,176. This slight decline of 0.8% is likely due to investors waiting for the Federal Reserve's policy decision in mid-September. Despite this, ETF inflows of nearly $1 billion last week have supported Bitcoin's price.

The current range of $78,000 to $82,000 is expected to continue until the Fed's decision, with key upcoming events like US inflation data and the Fed meeting likely determining if Bitcoin breaks out of this range. Elevated Treasury yields and expectations of a Fed rate hike are limiting upward momentum for now.