Bitcoin (BTC) Price: Fed Rate Hike Fears Keep BTC Stuck Below $82,000 Ahead of CPI Data
TLDR
- Bitcoin is trading around $79,176–$79,500, down 0.8% over 24 hours
- Analysts expect BTC to stay range-bound between $78,000 and $82,000 until the Fed’s September 16 decision
- US spot Bitcoin ETFs saw $987 million in inflows last week, totaling $3.8 billion over three weeks
- August jobs report beat expectations, pushing Fed rate hike odds to ~60% for September
- CPI data on September 11 and the FOMC meeting on September 16 are the key events to watch
Bitcoin is trading near $79,200 on Monday, September 7, down 0.8% over the past 24 hours. The price has pulled back after briefly clearing $82,000 last week.
The asset moved between $78,707 and $80,494 in the past day, with trading volume up nearly 30% to around $24.4 billion, according to CoinGecko.
Sellers have repeatedly stepped in near $80,500, keeping Bitcoin locked inside a wider range of $77,200 to $82,100 identified by Bitfinex analysts.
Jeff Ko, chief analyst at CoinEx, told crypto.news he expects the range to stay tight ahead of the Federal Reserve’s next move. “I expect compression into a tight range, capped around $82,000 with support at $78,000–$79,000, and a directional resolution once the Fed is out of the way,” Ko said.
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