Bitcoin Holds Ground Near $77K Ahead of Fed Rate Hike Decision

Bitcoin maintained a steady price near $77,000 on Monday as markets anticipated a crucial Federal Reserve meeting scheduled for September 15-16. Rate markets indicated an 85% probability of a 25-basis-point rate increase.

This expectation comes after stronger inflation data released last week showed August consumer prices rose 0.4% from July and 3.4% from the same period last year. As a result, interest-rate markets shifted towards expecting another rate hike.

The probability of a 25-basis-point increase climbed to approximately 85% before the meeting, which could impact cryptocurrency markets. Higher rates make Treasury securities more attractive to investors seeking yield, but also increase borrowing costs for leveraged and speculative positions.