Bitcoin Stuck Near $77,700 as Investors Cautious Ahead of Fed Decision

Bitcoin's price is holding steady near $77,700 on Monday as investors remain cautious in the face of a tougher macroeconomic environment. The cryptocurrency has been unable to break through the $80,000 barrier despite some subdued selling.

Vikram Subburaj, CEO of Giottus, notes that US spot Bitcoin ETFs attracted $3.34 billion between August 19 and September 4, helping BTC recover from about $62,000 to $82,000. However, he warns investors to avoid high leverage before the Fed decision on September 16.

Subburaj also points out that Bitcoin's $76,600 support and the deeper $71,000 level offer clearer reference points for staggered entries.