Bitcoin Holds Steady Near $80K Amid Fed Hike Bets and ETF Inflows

Bitcoin has stabilized near $80,000 despite stronger-than-expected US employment data and rising Treasury yields. According to the CME's FedWatch tool, there is a 60% implied probability of a 25-basis-point interest rate hike at the Federal Reserve's September 16 meeting.

The cryptocurrency has shown 'exceptional resilience' in the face of several potential catalysts for correction, said LMAX Group Market Strategist Joel Kruger. He highlighted higher Treasury yields and rising oil prices following renewed US-Iran tensions as headwinds that Bitcoin has absorbed without significant technical damage.

US spot Bitcoin ETFs have recorded $987 million in inflows last week, extending their positive streak to three consecutive weeks. CryptoQuant analyst Axel Adler Jr. said the increase in realized capitalization suggests Bitcoin is changing hands at higher prices and supports the recovery as the cryptocurrency holds near $80,000.