Bitcoin Trapped Between $78K and $82K as Fed Decision Looms

Bitcoin's price is stuck in a narrow trading range between $78,000 and $82,000 as investors wait for the Federal Reserve's interest rate decision on September 16. According to analysts at CoinEx, the asset may remain within this range until then.

The current structure of Bitcoin supports 'continued consolidation with an upside bias' rather than a confirmed breakout, said Bitfinex analysts. The recent failure to stay above $80,000 has pushed the price down to around $79,176, but the trading volume has increased nearly 30% to about $24.4 billion.

Jeff Ko, chief analyst at CoinEx, expects even tighter trading before the Fed announces its next interest-rate decision, which could resolve the current range. 'I expect compression into a tight range, capped around $82,000 with support at $78,000, $79,000,' he said.

The US-listed spot Bitcoin ETFs absorbed $986.9 million in net inflows during the week ending September 4, taking the three-week total to approximately $3.8 billion. However, Bitfinex analysts noted that this is not enough to confirm a sustained accumulation period, and they want to see another few weeks of positive flows before calling it a genuine accumulation phase.