Bitcoin Surges Past $80,000 as Waller Signals Dovish Fed Stance
Bitcoin surged past $80,000 on September 3rd, jumping from around $77,000 in the morning to an intraday high above $81,000. The catalyst for this move was a comment from Fed Governor Christopher Waller, who signaled he would back a hold at the Fed's mid-September meeting if inflation trends continue favorably.
The comment had an immediate impact on market expectations, with hike odds declining after Chair Kevin Warsh's hawkish Jackson Hole speech put a September increase back in play. Bitcoin gained around 5% on the day, while gold rose and the dollar slipped. The 10-year yield also eased off recent highs near 4.82%.
The U.S. spot bitcoin ETFs saw net inflows of $101 million on Wednesday, led by BlackRock's IBIT, which followed a $236 million outflow the previous session. Strategy also made its first bitcoin purchase since June 2026 last week.