Bitcoin
Bitcoin Surges Past $80,000 Following Remarks by Federal Reserve Governor
Bitcoin rallied past the $80,000 level after comments from Fed Governor Christopher Waller shifted interest rate expectations.
Bitcoin broke above the $80,000 mark to reach an intraday high of $80,477, rising over 3% from its previous close of $77,302. The price acceleration followed remarks from Federal Reserve Governor Christopher Waller during a Reuters event, where he signaled support for keeping interest rates steady at the upcoming September policy meeting.
Waller highlighted that the three-month rate on the Fed's primary inflation gauge had declined from 4.76% in February to 3.05%, advocating for patience on monetary policy. Following his statements, CME FedWatch data indicated that market-implied odds of a September rate increase dropped by roughly 12 percentage points to 54.6%.
The policy shift prompted broad market movements across asset classes. The two-year Treasury yield dropped seven basis points to 4.30%, while the US dollar fell against major currencies and lost over 2% against the Japanese yen. In crypto markets, Bitcoin moved past its previous resistance level at $78,670 on the three-hour Bitstamp chart, breaking out of a trading range established in late August.
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