Bitcoin Faces Key Events Amid Price Stagnation
- Bitcoin slipped about 1.5% to near $78,800 after briefly trading above $80,400.
- Fed funds futures indicate a roughly 57% probability of a September rate hike, up from late August’s odds of 34.8%.
- Spot bitcoin ETFs hold $101.25 billion in net assets, with Blackrock’s IBIT adding $3.575 billion in the past month.
- Key dates impacting bitcoin include U.S. jobless claims on Sept. 10, CPI for August on Sept.11, and the FOMC meeting on Sept.15-16.
Bitcoin’s price movement remains constrained as key economic data and decisions approach, potentially influencing market conditions significantly.
Despite recent fluctuations, institutional interest in bitcoin ETFs continues to grow steadily with significant inflows observed over the past month.(Source)
